Prices of the injection price (ing) only a rare bull signal – can it double from here?


The injection began to operate the heads again as the weekly chart hints to a potential upward reflection. The price of ing has increased from the lowest level in several months and is now close to the main resistance level monitored by many merchants. One of them is Cryptorand, a large analyst, posted on X that the collapse above $ 10 can lead to a much larger step.
When writing, the price of the infection is traded by about $ 9.39, less than $ 10. It is a level of interest, as traders closely monitor to see if the distinguished can penetrate and start a stronger gathering, or whether it will be rejected and retreat to its extent.
The structure of the injection prices and trend lines
The weekly candlestick chart shows JON tries to shift from the long -term landmark. Constantly respected the countdown line from its height at all about $ 25 to $ 28. However, modern candles indicate a break above this line, indicating the end of the extended phase.
The current pattern is similar to the outbreak of the falling wedge, which is usually associated with the repercussions of the direction. With the support of this opinion, the graph also shows a round base forming that reflects the long accumulation between $ 6 and $ 10. This range has witnessed a constant purchase of purchase over the past few months, according to the structure of the plan.
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Injury support and resistance areas
Historical price activity highlights the main levels that work as support and resistance. The region was from $ 6.00 to $ 6.20 as a reliable support zone during the previous decline. Secondary support lies near the $ 8.00 mark, which was also held during previous withdrawals.
On the upper side, 10 dollars are still the most urgent. This level has been spent over and over again as a transformation point, and the current weekly candle is testing it. If the infection price exceeds $ 10, the resistance is at $ 12 and $ 14 can follow. Moreover, the regions between $ 18 to $ 25 remain long -term goals, although they depend on the continuation of the bullish momentum.
Moreover, the size activity shows a gradual increase in green candles, pointing to the increasing interest during the height. Although the peak size was not visible yet, the fixed participation helped pay the price up from the support areas. If this trend continues, it may support a higher price in the short term.
Cryptorand analysis is in line with this observation. A tweet indicated that the collapse of more than $ 10 will lead to an upper reflection. A combination of technical settings and increased trading size strengthens the possibility of a transformation in the structure.
Expectations of the price of infection and risk levels
If ing maintains its current path and confirms the outbreak of 10 dollars, the price may target the resistance areas of $ 12 and $ 14. This will represent a possible double from its lowest levels. However, failure to maintain this level may lead to a decline in about $ 8 or even the $ 6 support zone.
Merchants closely monitor the graph with the distinctive symbol homing at an artistic turning point. Whether the injection price confirms its upcoming or returning reflection The standardization phase may depend on the price reaction to the 10 -dollar area in the upcoming sessions.
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