Injective is approaching an all-time high
The weekly technical chart shows that Injective has been rising since the start of the year. The hackathon has a $100k prize pool, and the event will provide developers and startups with a variety of technical guidance and mentorship.
INJ forecast: whether the historic high is achievable
Elliott Wave Theory is consistent with the prediction of a steady rise in the altcoin price. According to the wave analysis, the altcoin is in the fifth and final wave of a bullish structure. The size of the fifth wave can be analyzed using Fibonacci projections by measuring the length of the first and third waves.
Fibonacci levels are traditionally considered the most likely springboards for price to stop and reverse after a significant advance in any one direction. As expected, at these levels, the market may regain some of the distance traveled and only then resume moving in the original direction