A widely followed crypto analyst, Ethereum He says that an (ETH)-based altcoin is showing bullish signs against both the US dollar and Bitcoin (BTC).
Analyst alias Kaleo, decentralized derivatives exchange to 590,200 Twitter followers Injective (INJ) appears poised to outperform Bitcoin says.
According to a chart shared by the analyst, the INJ/BTC pair seems to have successfully retested a diagonal resistance as support.
“INJ is showing solid strength against BTC again. I’m in the long position here.”NEWS CONTINUES BELOW
Kaleo later updated the chart to say that the INJ/BTC pair could briefly cool down after rising as high as 0.0003031 BTC ($8.23).
“INJ/BTC is a solid move so far. It wouldn’t be surprising to see some buildup here before a higher continuum.
Kaleo also closely monitors INJ’s price action against the US dollar.
The popular analyst says that the pair is also bullish after removing the diagonal resistance and retesting it as support.
“The INJ/USD chart looks great too.”
Injective is worth $7.86 at the time of writing, up 7.7% in the last 24 hours.
Altcoins recently announced a number of new developments in its ecosystem, including integration with its blockchain scaling solution Polygon (MATIC).
“Injective has launched a groundbreaking integration with Polygon Labs to enable true DeFi (decentralized finance) composability. For the first time, the native assets of Polygon and Injective will be available for a wide variety of cross-chain use cases within the two ecosystems.”
Injective has also completed an upgrade to the Avalon mainnet after the proposal was approved by 99.8% of community voters.
“The Avalon Mainnet Upgrade has been completed to bring you the most performing Injective infrastructure ever.
Robust scalability optimizations
PoS (proof of stake) verification renewal
The fastest block times on the mainnet.”