2 closely followed cryptocurrency analysts shared their major price predictions for an Ethereum-based altcoin.
Michaël van de Poppe expects 50% rally on Injective (INJ) price
In his latest analysis, popular crypto analyst Van de Poppe said he is closely watching the Ethereum-based DEX protocol Injective (INJ). ENJ, the 75th largest crypto, has had the opportunity to test its main resilience several times in recent weeks. Poppe says these trials make the area stronger for the bulls. At the same time, the resistance became more prone to break. In a new blog post for Eight Global, Poppe says:
The chart itself is self-explanatory enough as INJ shows the resistance zone that price must surpass. This way, the area around $2 is a vital area for a breakout and if it does, a huge gap opens towards $3.
According to the analyst, INJ price is ready for a run if it manages to break the $2 resistance zone. Van de Poppe explains why he has such a strong expectation:
Simple. INJ price has been moving sideways since May; hence, it is revealing everything in mass presence and crypto, given the current sentiment. Once it breaks out of the high range we can see at $2, the breakout will likely accelerate as investors step up to buy. However, at the same time the shorts are getting liquidated or stopped (longs are opened and closed) and there is a large gap in price action towards $3. That means a significant run of close to 50% is just around the corner.
INJ is currently trading at $1.86. If the analyst’s expectation of 3 dollars comes true, this will mean a 50% gain from current levels. Similar expectations were also featured in the latest analysis of another popular analyst, Altcoin Sherpa.
Altcoin Sherpa says this area is opportunity in INJ price
Similar to Michaël van de Poppe, Altcoin Sherpa is pretty bullish on INJ. In his latest analysis, the popular Twitter analyst said he would consider $1.70 on the INJ chart as an entry level. The analyst’s first target after this is the $2.20 region. Sherpa explains why:
INJ represents strength in this market. In case it arrives I will buy it at the next dip. I am comfortable with this. Probably mid $1.
Sherpa’s chart signals long for INJ around $1.70. The analyst’s first target from here is the $2.20 region. cryptocoin.comAs you follow, Sherpa previously said that he expects bullishness for Ethereum (ETH), Ripple (XRP) and Terra Classic (LUNC).
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