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Analyst Says DeFi Altcoin Gearing Up To Revisit All-Time Highs, Updates Outlook on Solana, Cardano and Polkadot

Press Releases Crypto News DailyHodl Analyst Says DeFi Altcoin Gearing Up To Revisit All-Time Highs, Updates Outlook on Solana, Cardano and Polkadot

A closely followed crypto analyst says that one decentralized finance (DeFi) altcoin is setting the stage to revisit its all-time highs.

Pseudonymous crypto strategist Rekt Capital tells his 369,500 subscribers on the social media platform X that the decentralized exchange (DEX) platform Injective Protocol (INJ) is positioning itself to skyrocket to its previous all-time high of around $21.40.

“Injective just needs to stay above either $13.50 (orange) or $11.23 (green) to continue to position itself for a long-awaited revisit of the last major resistance before new all-time highs (red).”

Source: RektCapital/X

INJ is trading for $16.55 at time of writing.

The trader then brings up the smart contract platform Solana (SOL), saying that a pullback to $42 would be “healthy,” but that a correction as far as the $23 could be possible.

“SOL. Also tapped the $61 resistance, even overextending beyond it. Is it time for Solana to pull back? It would be entirely healthy for a dip to $42 (red) Generally, a monthly close above the purple area would be bullish and invalidate the green path.”

Source: RektCapital/X

Solana is trading for $59.66 at time of writing.

Moving on to Cardano (ADA), another smart contract platform, Rekt Capital says that it is trading within a wide range between resistance at $0.40 and support at $0.24.

“Cardano is forming a very clear macro range.”