The news we will give for two altcoins indicates an effective rise. Our first cryptocurrency is Injective. The second is Apecoin. Let’s look at the details.
Altcoin Injective attracts attention
Altcoin Injective (INJ) is up over 930% since the beginning of the year. This impressive performance is a testament to the token’s potential. It also increased its price to more than ten times its initial value. Despite the overall bearish trend in the cryptocurrency market, Injective (INJ) is in a notable uptrend. INJ, which currently has a market cap of approximately $1 billion, ranks 44th in the market cap rankings. However, we should point out that INJ’s daily trading volume is around 80 million dollars. Accordingly, the figure is relatively low compared to the market value.
Despite the challenges in the crypto market, INJ witnessed an impressive tenfold increase in value throughout the year. This increase pushed INJ to break the 0.382 Fibonacci resistance level at around $10.4 earlier this month. The token is now facing the next significant Fibonacci resistance near $16.2. Moreover, additional horizontal resistance lies between $16.65 and $25.3. Let us note that Altcoin INJ has partnered with Google Cloud. Accordingly, there is a web3 integration.
The increase in Apecoin attracted attention, but there is a long way to go
Altcoin Apecoin (APE) price hit an all-time low of $0.99 on October 9. However, there has been an impressive increase since then. Accordingly, the token experienced an increase of over 30%. This significant increase was marked by a significant breakout from the long-term descending resistance line. On the other hand, it caused many people to wonder about the sustainability of this upward trend.
The price of altcoin Apecoin hit an all-time low of $1 on October 9. This situation attracts quite a lot of attention. Because the cryptocurrency was at $6.42 in January. The current situation indicates that the cryptocurrency has lost significant value. But the recent rise has a meaning. It now indicates that this trend is over. This downtrend was characterized by a descending resistance trend line.
Bullish signals from the relative strength index (RSI)
The daily Relative Strength Index (RSI) offers an encouraging bullish signal. The RSI serves as an important momentum indicator used by cryptocurrency traders to assess whether a market is overbought or oversold. It also helps guide buying or selling decisions. An RSI reading above 50 with an upward trend is indicative of a bullish sentiment, indicating buyer dominance. An RSI value below 50 means the opposite for the altcoin.
In the case of the altcoin Apecoin, the RSI is both rising and positioned above 50. Accordingly, it adapts to bullish market conditions. The recent upward movement in the price of Altcoin Apecoin attracted attention. Accordingly, it created a positive atmosphere among cryptocurrency traders and analysts on various platforms. There are predictions from prominent names in the crypto community such as Sheldon_Sniper and DaanCrypto. Accordingly, when we look at Kriptokoin.com, they say that APE will rise up to $ 3.20.
To be informed about the latest developments, follow us Twitter’in,Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.