INJECTIVE ANALYSIS: JULY, 2021
Injective is a first two-layer decentralized exchange protocol that is the future of DeFi chains. Here’s the price analysis of Injective.
Injective is trading at $6.74. The coin has formed a symmetrical triangle on the daily time frame. After a heavy downtrend which dragged the coin to a low of $4.90, it has risen gradually along the lower trendline. It has a minor resistance at $7.65 from which the coin has reversed before.
A bearish indication is that the coin is trading below its 50-day and 200-day exponential moving average. In addition to that, the 50-day exponential moving average has given a death cross below the 200-day exponential moving average.
The volumes are indicating indecisiveness since both bullish and bearish volumes are occurring in a scattered manner. Although there was a spike in bullish volumes a few days ago, the coin failed to give a close above the resistance.
The Relative Strength Index is showing indecisiveness since it is stuck in a small range. It is facing constant rejections from trendlines on both sides. It is currently positioned at 44.86 with no clear direction to go.
The MACD is above the signal line, giving a ‘buy’ call to investors.
The price analysis of Injective suggests a sideways to bullish movement in the coming days.
On the breakout and close above $7.65, $9.43 and $11.87 are the targets on the upside.
On the breakdown and close below $6.39, $5.70 and $4.90 are the targets on the downside.
The price analysis of Injective indicates that it can move sharply in either direction.
FRONT ANALYSIS: JULY, 2021
Front is a cryptocurrency developed by the Frontier network which is a wallet service provider. Here’s the price analysis of Front.
Front is trading at $0.68. After giving an excellent breakout with volumes of the ascending triangle formation, the coin is stuck in a range. This range extends from $0.65 to $0.82 on the 4-hour time frame. Although the coin formed a textbook bearish pattern of double top formation, it is showing signs of reversal near the demand zone. A “morning star” pattern and a strong bullish candle clearly shows a reversal.
Another indication of a sideways movement is that the coin is below its 200-day exponential average but taking support above its 50-day exponential moving average. Until it remains above the 50-day exponential moving average, the medium-term trend of the coin remains bullish. Almost all volumes are above the average. The presence of buyers is clearly indicated.
The Relative Strength Index is showing mild price strength for the coin. The RSI gave a positive divergence supporting the reversal. It currently stands at 47.09, with a potential to move higher if the reversal sustains.
The MACD is below the signal line, giving a ‘sell’ call to investors. The rejection faced by the Front coin justifies the positioning of the MACD.
On the breakout and close above $0.687, $0.74 and $0.82 are the targets on the upside.
On the breakdown and close below $0.64, $0.60 and $0.54 are the targets on the downside.
DIA ANALYSIS: JULY, 2021
The DIA network developed the DIA coin to enable users to share data and information. Here’s the price analysis of DIA.
DIA is trading at $1.390. It has been forming a higher-high higher-low formation on the 4-hour time frame. This is the definition of a bullish trend. The coin rallied nearly 70% from $0.92 to a high of $1.59 in a span of three weeks. Now it has again retraced to a higher-low near its demand zone. The coin is likely to bounce higher from these levels.
The coin is trading above its 50-day exponential moving average but facing resistance from its 200-day moving average. The medium-term trend remains intact and the coin is ready to make a new high.
The volumes show great participation by the bulls since the bullish volumes exceed the bearish ones.
The Relative Strength Index is showing price strength for the coin. The RSI has given a positive divergence, supporting the reversal signs on the chart. It is currently positioned at 47.42,with a potential to move higher.
The MACD is below the signal line because of the retracement given by the coin. It is giving a ‘sell’ call to investors.
On the breakout and close above $1.44, $1.59 and $1.70 are the targets on the upside. The possibility of an upward movement for DIA is more likely.
However, on the breakdown and close below $1.31, $1.25 and $1.17 are the targets on the downside.