Popular crypto analyst Altcoin Sherpa had a very positive view on the mid-cap altcoin project Injective (INJ) in his recent analysis. Sherpa stated that INJ has high growth potential and may present an attractive opportunity for investors in the coming weeks.
In his analysis of Altcoin Sherpa, he observed that “higher low” was formed in the high time frames on INJ’s charts. This indicates that the asset’s price formed a higher base before moving into a downtrend. Sherpa described this phenomenon as “very healthy” and emphasized that it is a positive indicator for INJ’s future performance.
“INJ: in the high time frame, a higher low (a new low higher than the previous low) was formed. This looks very healthy. “I think this is one of the few places you can blindly buy the dip for the coming weeks.”
According to the analyst, INJ’s current price levels may herald a potential rise in the future and present an advantageous buying opportunity for investors. Looking at its chart, the analyst seems to think that the altcoin may retest the resistance level first at $9.88 and then at $14.
The popular analyst didn’t just review INJ. In addition, he also analyzed the two leading cryptocurrencies, Bitcoin and Ethereum. According to the analyst, the largest crypto assets have recently seen a significant rise based on a historical pattern. can see.
“It’s really important to look for seasonality in crypto. BTC and ETH traditionally perform extremely well in Q4 or Q1 of the following year. It makes sense for people to sell their assets in December and buy them again in January. “This happens even in the worst bear markets.”
Altcoin Sherpa also looks at Ethereum’s historical data and predicts an ETH rally in the coming months.
“ETH is also really prominent. Sometimes the rally takes place in December, sometimes in January, and sometimes in November. However, there is usually a strong rise that lasts about a month, and we experience some mini altcoin rises during these times. “Personally, I will be in a long position in November.”
Finally, the trader said that popular altcoin Solana has retested a key resistance level, but SOL remains uncertain about turning it into support.
“LEFT: I don’t think it’s in a great spot to buy, the 200-day EMA (exponential moving average) is being retested on the 4-hour chart, but I think it will be really interesting to see where the next top will be. If we reach a higher top on the 4-hour chart, there may be a change in market structure. “I’m watching, but I’m not excited yet.”
According to the chart above, Altcoin Sherpa thinks that the bullish scenario will send SOL to the $21 range before the decline, while the bearish scenario will see SOL return to the low $17 range.
You can follow the current price movement here.