Injective Price Analysis: Can It Hit $52.98, $70, or $90?

INJECTIVE SMC HTF Analysis

Market Overview

The price of Injective (INJ) has exhibited significant market structure shifts on the higher time frame (HTF) following the recent liquidity events. After reaching an all-time high (ATH) of $52.982, the price underwent a major correction of approximately 74%, leading to the liquidation of long positions and triggering a market structure shift.

Liquidity and Market Structure Shift The sharp decline in price swept below key sell-side liquidity zones, altering the market structure. This liquidity grab has paved the way for potential bullish momentum. The current price level of $23.950 reflects a setup conducive to a continuation of the upward trend as it positions to test significant order blocks.

Technical Outlook

The market appears primed for a retracement phase before resuming its bullish trend. A retracement to the $20.50 level provides an optimal entry point for long positions, aligning with the prevailing bullish market structure. Key upside targets include a retest of the $52.98 ATH, followed by extended targets of $70 and $90 if bullish momentum persists.

Key Technical Levels

Entry: $20.50 (retracement to mitigate order block)

Stop Loss (SL): $14.72 (below invalidation level)

Targets:

1. $52.98 (previous ATH and liquidity target)
2. $70 (structural resistance and Fibonacci extension level)
3. $90 (psychological resistance level and extended target)

Strategic Considerations

Bullish Bias: Price structure and liquidity sweeps suggest a potential bullish continuation. Traders should wait for a pullback to the $20.50 level to mitigate risk and align with the higher time frame order flow.

Risk Management: Use the defined stop-loss level of $14.72 to safeguard against invalidation of the bullish thesis.

Target Execution: Monitor price action at key resistance levels to secure profits or adjust stop-loss levels.

This setup requires patience and precise execution to capitalize on the projected bullish movement. The HTF analysis indicates a high probability of a bullish continuation, with clearly defined entry, stop-loss, and profit targets.

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