Cryptocurrencies Price Prediction: Injective, Bitcoin & Ethereum – Asian Wrap 16 October

Injective Price Forecast: INJ extends rally as CEO meets US policymakers to push advanced tokenization

Injective (INJ) is inching closer to $9, extending a steady rebound from the 50-day Exponential Moving Average (EMA), which was at $6.59 last week. Injective’s CEO Eric Chen met with senior US officials on Wednesday to advance tokenization and on-chain finance within US regulatory frameworks. On-chain data shows an increase in supply moving out of exchanges, alongside a rising percentage of supply in profit, indicating reduced selling pressure.

Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC holds $80,500, ETH rebounds from key support, XRP weakens

Bitcoin price trades at $82,106 on Friday, holding above the key Exponential Moving Averages (EMAs), which keeps the near-term bias constructive. BTC is comfortably above the 50-day EMA at $80,443, the 100-day EMA at $76,824 and the 200-day EMA at $75,751, suggesting the broader uptrend remains intact despite the recent pullback from the highs. The Relative Strength Index (RSI) near 48 signals weakening momentum, while the Moving Average Convergence Divergence (MACD) remains below zero, hinting that bullish pressure is moderate rather than aggressive at this stage.

Ethereum reclaims $2,400 as PPI hits 6.3% and yields fall

Ethereum (ETH) is back above $2,400 on Thursday, rebounding from a brief decline toward $2,340, which was sparked by an upside surprise in the US wholesale inflation report. The Producer Price Index (PPI) increased 1.3% monthly and 6.3% annually in September, far above expectations of 0.5% and 5.3%, respectively. Core PPI, which omits volatile energy and food prices, rose 0.7% MoM and 5% YoY, also above market forecasts of 0.3% and 4.4%, respectively.