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.
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
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.
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
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.
An unexpected surge above $9 ignites demand building up for $11.
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Source: https://www.cryptoknowmics.com/news/secret-scrt-and-injective-protocol-inj-technical-analysis-what-to-expect