Mags, a cryptocurrency trader and analyst known on X (formerly Twitter), foresees INJ, Injective’s native crypto, hitting the $50 milestone soon. He initially predicted this when INJ attempted to break a downward trendline on May 28. Back then, Mags charted a path for INJ, marking a trajectory from $6.808 to potentially reach $14, with a lower resistance point at $11.697.
Recent updates from Mags revealed that INJ not only surpassed the anticipated $14 level but also tested it multiple times, transforming it into a robust support zone. Post this development, INJ took off on an exceptional rally, marking a surge of up to 500% since Mags’ initial May prediction.
At the latest update, INJ traded at $39.107, a steep climb leading Mags to anticipate further growth until it hits the $50 mark. INJ serves as Injective’s native crypto within the blockchain, focused on developing decentralized finance (DeFi) applications. Its recent rally has propelled its price to an all-time high (ATH), nearly doubling its previous ATH from the 2021 bull cycle.
During May 2021, INJ previously hit its ATH, which was followed by a substantial loss during the subsequent bear market, as per CoinMarketCap data. INJ began its recovery earlier this year, witnessing a surge to almost $10 in April. Presently, its rally remains strong and consistent, devoid of historical barriers acting as technical resistance. Despite this, Mags anticipates potential impact at $50, a psychological threshold that could influence INJ’s price trajectory.
