INJUSD: Giant Cup and Handle targeting 16.50 before correction

23 ต.ค. 2023Injective crossed over the 6 month Resistance turned overbought on the 1D timeframe but is still balanced on the 1W (RSI = 68.170, MACD = 0.883, ADX = 23.993), which is where we should be looking at as this is a bullish breakout on the higher timeframes. Technically this can keep rising until the 1W RSI hits well within the 80.000 level. We use this breakout buy signal to target the R1 level (TP = 16.500). This is potentially a giant Cup and Handle pattern that can even go as high as the R2 level (25.500) before pilling back. After that, it will turn into a buy opportunity again when it hits the 1W MA50.

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