INJUSDT at weekly resistance, likely to pullback before rise

٢٧ يوليو

We talked in dec 2023 about a good entry from WS1 if we get that while we were trading around ATH. The price did pull back after pushing a bit higher from there in march 2024 and came back to weekly support WS1 in following months. This support provided a good bounce as we can see and the price is currently trading significantly above from that support level. However, it is currently blocked by weekly resistance WR1 and the price is trading below that resistance. Once the price breaks WR1, it can go beyond MR1 without much of struggle. However, I think it may not be ready to break WR1 yet and may revisit DS1 zone before gaining the strength to move up to break WR1. If the price comes back to DS1, I will long it else on break of WR1.