Contents
The latest rise in market trends has woken up the DeFis and NFTs that had remained sluggish for a longer time frame. Both categories have been attracting significant market capitalization, indicating a shift in the trader’s sentiments that have flipped in favour of these tokens. While Injective & Render prices have been among the top gainers, Artificial Superintelligance Allinace & Avalanche prices are trying to break above the crucial resistance.
Injective (INJ) Price Analysis
- The INJ price seems to have risen above the bearish captivity as the levels have rebounded and begun to rise from the interim lows
- A v-shaped recovery is expected to elevate the levels to the pivotal resistance zone between $29.08 and $30.16 as the technicals are about to flip in bullish favour soon
- The +Di & -Di levels of DMI and the conversion & base lines of the Ichimoku cloud are about to flip in favour of bulls.
- Therefore, the INJ price is expected to maintain a consolidated ascending trend until the crossover, followed by a bullish breakout to the descending trend line at $32.61 soon
Render (RNDR) Price Analysis
- As seen in the above chart, the Render price is stuck within a decisive phase and approaching the edge of the consolidation
- The recent rebound from the average levels before reaching the support suggests the rise in the bullish strength that may keep up the momentum of the rally
- Besides, a rise above 0.618 FIB may validate the possibility of testing the descending parallel line at $9.8, which may further pave the way to reach 0.786 FIB at $11
- The RSI is incremental as it bounced off from the average levels, validating the bullish claim, aiming to rise above 1 FIB at $13.5
Artificial Superintelligance Allinace (FET) Price Analysis
- The FET price has continued to trade within a rising parallel channel since the second half of 2024 after rebounding from a fake breakdown
- Besides, the DMI has displayed a bullish crossover but the ADX remains decremental, indicating a massive drop in the strength of the rally, compelling the price to remain in a consolidated range
- Regardless of the positive price action, the fear of a pullback haunts the price rally as the Gaussian channel has just turned bearish
- Therefore, the FET price is expected to maintain a consolidated ascending trend, reach the pivotal resistance at $1.73 and reach the upper band of the Gaussian channel. A breakout beyond the range may trigger a fresh rise to the upper targets above $2
Avalanche (AVAX) Price Analysis
- The AVAX price is testing the resistance zone between $44.55 and $45.10 after rebounding from the interim lows
- The volume has dropped, which suggests a drop in its momentum as well, which could hinder the progress of the rally
- However, the RSI is incremental, which suggests the price may breach the resistance zone and eventually make it to $50.
- The price may face some pullback due to exhaustion of bulls, but it may be overcome in a short time frame and rise above the 2024 highs and head towards a new ATH
