The unstructive price is deep in a cover zone despite the main via update x1

Despite a number of main initiatives in the first quarter of this year, injectivity saw that its price still trends down, now sitting in the deep zone oversides. Although this signals the possibility of a short-lived bouncing, the entire market feeling remains a bear.

This year injecting (Int) has concluded the main announcements and initiated several major initiatives.

29. January Injective Laboratories announced He plans to start the gender support of the virtual machine on his layer 1 block. 30. January, the project started AI index that combines 10 largest AI tokens, as well as traditional actions, including Tao, FET, NVDA and PLTR, in one antino property.

In the middle of February launched The Action Index Tradfi, which follows some of the world’s largest public traded companies, including Amazon, Apple, Microsoft and Goldman Sachs.

27. February, Injective announced If the German Telecommunications company Deutsche Telekom joined the Valnik. Google followed the suit, join Injective as a validator at the end of March.

Despite all these events, the price of the DNJ is on a clear trend, which took over the momentum at the end of December last year, when the 20-day exponential average crossed below the 50-day simple average. Attempted short-term Buk’s interruption appeared in the early and mid-January, with a price in brief climbing above 20 em and almost tests 50 SMA.

The DH DH was recently been terminated through $ 8.20 support zone $ 8.50, which kept for about a month. It currently trades from $ 6.93, up to 15% in the last 24 hours.

The relative power index also broke into the deep resale zone, sitting 26.41 at the time of pressure.

Movable average convergence / divergence The indicator is currently, because the MACD line is below the signal line with red histograms that indicate a negative momentum. However, the lines are converted, suggesting the weakening of bear pressure.

Although reselled RSI and MACD propose the possibility of short-lived mitigation, the total structure remains solid medium. With the broken support zone of 8, the next key support lies in the $ 5.50 region – the level tested during May 2023. If the bear moment continues, this area could act as the following support.