Injective (INJ) Reaches Local Bottom as Dormant Tokens Change Hands
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During Thursday's trading session, Injective's (INJ) Age Consumed metric hit a 30-day high, indicating that previously inactive tokens have started to move again.
This surge indicates a local bottom, marked by a lowest price point before an upward trend. The rise in the age consumed metric followed by a price rally suggests major investors are accumulating INJ.
INJ's age consumed surged, marking a local bottom at $16.13 followed by a 9% price increase to $17.60. The weighted sentiment for INJ also turned positive for the first time since early August.
INJ's Relative Strength Index (RSI) suggested the altcoin was oversold and now shows increasing demand. If positive sentiment continues, the price may reach $22.81, but a negative shift could drop it to $13.51.
Fuente: beincrypto.com ↗
