According to analyst Bluntz’s latest assessment, the Injective (INJ) cryptocurrency is exhibiting an uptrend. The bullish divergence phenomenon, which is followed closely by investors, is generally accepted as an important signal indicating that the corrective movement has ended. Bluntz emphasized this phenomenon, thinking that INJ could initiate a move towards its historical peak of $47.
INJ stands out as an altcoin that caught Bluntz’s attention and has been watching for a while. However, an almost 25% decline in the past shows that this crypto asset is going through a difficult period. However, according to the analyst, after this decline, a confirmed bullish divergence occurred on the four-hour chart. This indicates that the market has completed the corrective move and INJ may enter a potential uptrend.
A chart from Bluntz altcoin analysis that suggests INJ could be poised to rise to its all-time high of $47 shared.
“INJ was an altcoin that I had been trying to get into for a while, but it kept going up. “It eventually dropped almost 25%, where it had a nice four-hour confirmed bullish divergence.”
NEWS CONTINUES BELOW
At the time of writing, INJ is trading at $36.09.
Bluntz is also tracking the price action of four tier-1 altcoin projects and thinks the crypto assets are ready to take the next step.
“All layer-1s appear to be heating up again.
SOL, AVAX, SEI, SUI.”
Taking a closer look at Sui (SUI), the analyst predicts that the altcoin could rise over 28% from current prices.
“SUI is preparing for the next phase up to $1 and beyond, I think this is a good bottom for the long position.”
You can follow the current price movement here.