📊 Analysis:
Price Action: INJ surged by 680% over 5 months and is now retracing towards its 50% level.
Key Levels: The buy zone intersects with the 200-day Moving Average (MA), forming a significant area of interest.
Strategy: Ladder into a long-term spot position within the buy zone, considering potential for higher timeframe shifts in price action.
Buy Zone: Consider entry between $24 to $30.
Take Profit: Target profit levels around $37 or $43.
Stop Loss: Implement a hard stop just below $15 to manage potential downside risk.
🌐 Note: Monitor the price closely for any signs of reversal or continuation patterns. Adjust your strategy accordingly based on market dynamics.
Price Action: INJ surged by 680% over 5 months and is now retracing towards its 50% level.
Key Levels: The buy zone intersects with the 200-day Moving Average (MA), forming a significant area of interest.
Strategy: Ladder into a long-term spot position within the buy zone, considering potential for higher timeframe shifts in price action.
Buy Zone: Consider entry between $24 to $30.
Take Profit: Target profit levels around $37 or $43.
Stop Loss: Implement a hard stop just below $15 to manage potential downside risk.
🌐 Note: Monitor the price closely for any signs of reversal or continuation patterns. Adjust your strategy accordingly based on market dynamics.
Take Profit: Target profit levels around $44.50 or $52.
Stop Loss: Implement a hard stop just below $34 to manage potential downside risk.