INJUSDT is testing the key level
Updated
INJUSDT is experiencing a significant test of the daily resistance level around the $7.6 area. This means that the price of INJUSDT has reached a point where it has historically faced selling pressure and struggled to surpass this level.
If the price manages to break out above the daily resistance at $7.6, it would align with the trading principles outlined in Plancton's Rules. According to these rules, a breakout above a strong resistance level often indicates a bullish signal and suggests the potential for further upward movement.
In such a scenario, traders following Plancton's Rules may consider initiating new long positions on INJUSDT. By entering a long position, they would be speculating that the price will continue to rise after the breakout, potentially offering an opportunity for profit.
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Follow the Shrimp 🦐
Keep in mind.
If the price manages to break out above the daily resistance at $7.6, it would align with the trading principles outlined in Plancton's Rules. According to these rules, a breakout above a strong resistance level often indicates a bullish signal and suggests the potential for further upward movement.
In such a scenario, traders following Plancton's Rules may consider initiating new long positions on INJUSDT. By entering a long position, they would be speculating that the price will continue to rise after the breakout, potentially offering an opportunity for profit.
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Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Note
Waiting for the new bullish impulseNote
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