Injective, Refuses to Stay Above $30- $30 is a key level, acted as support, broke below, resisted and tested again this week.
- The retracement distance in the EQ channel is measured and placed to the top.
- Prices has broken below the green box giving indication that down trend continues. Price has also broke below the EQ channel.
- This is further exacerbated by price breaking below the week washline indicating that all gains are washed out from the week's token burn.
- Should price finds support at 23.73 level, then there's a possibility of a right shoulder forming.
- A week close below 23.73 level would also washed away all the gains.
- Near term support as shown.
- The author has skin in the game.