Injective Protocol — Bearish Ichimoku Signal — 10% Potential

If you follow my content, you will already know I am a big fan of the Ichimoku signal. It usually provides high-quality trade setups based on its multi-timeframe assessment.

In terms of INJ the signal flashed a bearish entry, calculating a potential of almost 10%. Backtests are positive; however, since they are relatively rare signals, they only rely on two occurrences. Therefore, the backtests shouldn't be overrated.

Trend indicators show a strong bearish trend. On the other side, it is important to pay close attention to the momentum indicators since they already signal an oversold status.

Additionally, since the latest candle could be interpreted as bullish, it might be worth waiting for the current candle to close.