Is INJ Set for Growth in February?

The Injective Protocol cryptocurrency, INJ, sustained a volatile start to the year. Is INJ at crossroads or is it set to jump higher in the coming weeks?

Daily time frame

INJUSD - 1 Day Time Frame

Looking into the INJ price behavior on the daily time frame, a Buy-side Imbalance Sell-side Inefficiency (BISI) can be noticed.

This parameter, alongside the Order Block, have played an important role in the formation of the price correction, which may bring about a bullish move.

The Buy-side Liquidity is another important parameter to consider. It represents the Stop Loss order area to sell for investors and traders. It is especially important in matching orders.

Large institutions would have to find a buyer if they decide to exit from the market with a profit.

4-hour time frame

INJUSD - 4 Hour Time Frame

Relatively equal lows can be seen when examining the 4-hour time frame, which can serve as the initial liquidity.

The Sell-side Liquidity (SSL) is below these bottoms. Hence, the price will need to fall below these lows to allow market players to enter buy positions prior to a potential bullish move.