Connect with us

Plato Vertical Search


Secret (SCRT) and Injective Protocol (INJ) Technical Analysis: What to Expect?

Injective Protocol and Secret prices are holding up above key support levels. Still, INJ/USDT may crash towards $5 as SCRT/USDT buildup towards $2.5.

Table of Contents

Rate this post

Injective Protocol and Secret prices are holding up above key support levels. Still, INJ/USDT may crash towards $5 as SCRT/USDT buildup towards $2.5.

Secret (SCRT)

SCRT is the native currency of the privacy-centric focus enabling private and secure computation.

Past Performance

SCRT/USDT prices remain under the weight of sellers. However, the whipsaw of June 17 with markedly high trading volumes may provide a cushion for hopeful bulls.

SCRT is relatively strong at press time, adding seven percent against the USD.

Trading volumes are up 36X on the last trading day, buoying buyers.

Day-Ahead and what to Expect

Reading from the daily chart, SCRT/USDT is deep in bear territory.

READ  Shroom Finance Introduces New Gaming DEX “GameSwap”

However, there are signs of strength as June 17 gains may lead the way.

Technically, every low may be a loading opportunity for buyers expecting a surge towards $2.5 in line with gains of late May 2021.

SCRT/USDT Technical Analysis

Secret Price Daily Chart for June 18

SCRT bulls are back in contention, which is net bullish.

Thus far, SCRT/USDT prices are in range, flattening out following losses of May 21.

However, as long as SCRT prices are firm above $1 and May 2021 lows, every low may be a loading opportunity for bulls targeting $2.3 in the medium term. Losses below $1 invalidate the uptrend.

Injective Protocol (INJ)

INJ primes the protocol. Its creators look forward to truly decentralized solutions explicitly allowing users to trade various assets, including CFDs and derivatives.

Past Performance of INJ

INJ prices are mainly in range inside a tapering wedge with clear resistance and support lines.

READ  Goldman Sachs Resumes Its Cryptocurrency Trading Desk

On the downside, INJ found support at $8, while the middle BB is a notable resistance line, as the price action of the last month shows.

At spot rates, INJ is stable, losing versus the USD but posting minor losses against BTC and ETH.

Day-Ahead and what to Expect

Technical candlestick arrangements favor bears in the short term.

Sellers are pressing lower, unwinding gains in a bear trend continuation pattern, as June 17 bar reveals.

Nonetheless, a close above the middle BB may rejuvenate bulls, injecting them with momentum for the next phase higher.

INJ/USDT Technical Analysis

INJ Price Daily Chart for June 18

Technically, every high below the middle BB is a liquidation opportunity for opportunistic bears. In that case, $8 is the next target.

Further losses in sync with May losses below the minor support trend line may force INJ/USDT towards $5 or $3 in the medium term.

READ  14,800 Warning Letters to Spaniards Who Hide Their Crypto Earnings

An unexpected surge above $9 ignites demand building up for $11.

#DeFi #INJ #INJ/USDT #Injective Protocol #SCRT/USDT #Secret Network

Coinsmart. Beste Bitcoin-Börse in Europa

Related Streams


Costa Rica’s proposed hemp and medical cannabis law was passed by the Legislative Assembly on January 13, after a 29-10 vote. But what should...


New York is expanding medical cannabis access to patients in need, as well as making the process easier for people. The post New York...


It's been a long time coming, but Mississippi finally made headway on a cannabis bill agreement, soon to be a new law. The post...


Two Point Campus now has a release date: 17th May.It's coming out across PC and consoles: Xbox, PlayStation and Switch. It's also coming to...