Injective (INJ) has hit a five-month high after retesting a crucial resistance level on Monday and attempting to break out from a bullish pattern. Some analysts suggested that the cryptocurrency will have a massive run in the coming weeks. Related Reading: Bitcoin Demand Builds at $117K: Cost Basis Distribution Defines Key Support Level Injective Retests Crucial Levels Over the past month, Injective has recorded a substantial bullish performance, climbing 40% since late June, when the cryptocurrency traded below the $10 support. Since hitting its December high of $35.26, INJ has retraced around 60%, falling below this key support multiple times. During the April-May market recovery, the cryptocurrency broke out of its multi-month downtrend and climbed to its $10-$15 local price range, hitting a multi-month high of $15.48. However, the June pullback sent the token’s price to the $9 support zone before it bounced, tested the $10-$12 area, and broke out of its one-month downtrend in early July. At the time, analyst Crypto Rand suggested that a breakout above the $12 resistance level would “trigger the bull reversal,” which would push the token’s price toward the local range high. Injective has been attempting to reclaim the crucial $15 range high since its early July breakout, hitting a five-month high of $16.35 on Monday and passing the $16 barrier for the first time since February. Amid the token’s momentum, Crypto Rand noted that “INJ following the path, we are going straight to $30” as the first stop.” He added that Injective has become the Layer-1 (L1) with the highest code commits over the past 365 days. A recent report showed that the network is leading with 36,500 commits, 3.2% ahead of other L1s. Is A Rally To New Highs Near? Analyst Ali Martinez highlighted that Injective could see a 66% rally if it breaks out of a triangle formation. According to the chart, the cryptocurrency has been forming an ascending triangle pattern since March, with the key resistance level sitting around the $15 area. Amid its start-of-week pump, the cryptocurrency briefly broke out of the pattern but ultimately failed to hold above the crucial resistance. Notably, INJ fell below the $15 mark after failing to reclaim this level, retracing 10% intraday. However, reclaiming the key resistance would propel Injective to $25, a level not seen since January. Meanwhile, market watcher Crypto Patel pointed out an inverse Head and Shoulders pattern forming on Injective’s chart over the past six months, which could propel the token to a new yearly high if it breaks out. He highlighted that the INJ’s rising trendline support remains intact, while the pattern’s neckline has been retested twice, with the price compressing between these two levels. To the analyst, Injective needs a daily close and hold above the $16.20 area to confirm the breakout. If it reclaims this level, the setup would target a 153% move toward $41 mark, with the post-breakout initial targets sitting around the $26.36 and $34.32 resistances. Related Reading: TRON Sees $1B USDT Mint: Liquidity Wave Incoming? On the contrary, he affirmed that falling below the $12 support zone would invalidate the setup, which could also send the token’s price to the next support level around the $10 mark. As of this writing, Injective trades at $14.70, a 4.6% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Injective (INJ) is leading the crypto market with a 26% recovery from the recent lows, suggesting a “strong” rally could be around the corner. Some analysts forecast further upside for the token if it reclaims a key price area. Related Reading: Cardano Headed For $0.32 If This Level Isn’t Reclaimed – Is ADA’s Rally Over? Injective Sees Strong Daily Move On Tuesday, Injective saw a massive recovery from its recent drop to the $9 mark, and it’s attempting to reclaim a crucial resistance level. The cryptocurrency has been in a downtrend this month, driven by the increasing global geopolitical tensions. Since hitting its December high of $35.26, INJ has retraced over 65%, dropping below the $10 support multiple times during the 2025 retraces. However, the April-May rally saw the cryptocurrency break out of its multi-month downtrend and climb to its $10-$15 local price range. Following Monday night’s news of a potential ceasefire between Israel and Iran, Injective, alongside the rest of the market, reclaimed some of its recently lost levels, surging to the $11 area on Tuesday morning and nearing a crucial resistance. Notably, INJ recorded a 26% rally intraday to hit the $12.02 mark, becoming one of the leading tokens during the crypto market’s rebound. Analyst Crypto Rand noted that the cryptocurrency is now pushing over the June downtrend resistance following its price recovery, suggesting an explosive surge. According to the post, a breakout above the $12 resistance range would “trigger the bull reversal,” which could propel Injective’s price toward the local range high resistance around the $15 mark. Meanwhile, Crypto Busy highlighted that the cryptocurrency “just delivered one of the strongest moves in today’s altcoin rally” in “just a few candles” after bouncing from the $9 support zone. The analyst added that INJ continues to be “one of the most responsive altcoins when Bitcoin bounces,” forecasting potentially more bullish price action driven by the Injective Summit 2025, scheduled for June 26. INJ Ready For Massive Rally? Market watcher Clinton highlighted that INJ just completed its retest of its multi-month descending broadening wedge. According to the post, Injective bounced from the pattern’s resistance level, confirming the May breakout in the daily timeframe. This could set the cryptocurrency’s price for a 100%-150% “massive bullish rally” toward the $23-$30 levels if price holds the $11.5-$11.6 support zone, which served as a key area over the past two months. Additionally, analyst Sjuul from AltCryptoGems affirmed that Injective is forming a “very clear” Power of Three (Po3) setup since the May Breakout. In this pattern, a cryptocurrency’s price cycle is divided into three phases: accumulation, manipulation, and distribution. The first phase sees a token’s price consolidate near the recent high after a strong performance. This is followed by the price falling below the accumulation phase support level, trading within a range below the recently lost zone. Related Reading: Bitcoin Buy-Side Pressure Surges: Taker Buy Volume Spikes Sharply Lastly, a strong price breakout occurs in the third phase, with momentum building as participants enter the market. Based on this, Injective has entered the distribution phase, which is expected to lead to a “nice expansion” toward the $16 local resistance, “as long as we don’t find acceptance back below support.” As of this writing, Injective is trading at $11.64, a 3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Injective (INJ) could be preparing for another retest of the $10 resistance as its price attempts to confirm a key support level. Some analysts suggest that the cryptocurrency could be preparing for a breakout and a massive bullish reversal. Related Reading: SUI Breakout To $4 Imminent? Analyst Says A Correction To This Level Could Come First Injective Eyes $10 Retest Over the past month, Injective has surged around 43% from its 18-month low registered on April 7. During last month’s recovery, the cryptocurrency pumped from the $6.34 low to the $10 barrier, hitting a six-week high of $10.63 before retracing. INJ has been in a downtrend since hitting its Q4 high of $35.26, retracing nearly 75% in the last six months. Analyst Crypto Rand noted that the token has attempted to break out of the downtrend but has faced strong resistance around the $9.5-$10 range. Following its recent jump, Injective got rejected from this range, with some market watchers suggesting that it could retest the $9-$9.20 levels as support before the next breakout attempt. Amid the weekend retrace, INJ’s price has touched these levels, trading between the $9.00-$9.40 and briefly falling to $8.90 before bouncing. After the 4.8% drop, the cryptocurrency is attempting to confirm this level as support, which could help Injective gain strength for another push above the key zone and toward the $11-$12 resistance. Crypto Rand noted that a breakout of the “$10 range would trigger the bullish reversal,” which could also propel the token toward the $14 barrier, lost in early March. Notably, this level has been a key horizontal level since the November post-election pump, serving as a crucial support and resistance. INJ Ready For A Breakout? Meanwhile, analyst Sjuul from AltCryptoGems highlighted a massive, inverse Head and Shoulders pattern on INJ’s chart, noting that investors should pay attention as “this is one of the strongest reversal patterns.” This formation is a bullish reversal chart that suggests a potential shift from a downtrend to an uptrend. According to the chart, the cryptocurrency has formed this setup over the past two months, with the neckline sitting around the $10.30 resistance level. A breakout from the neckline could trigger a significant surge toward the $14 mark. Analyst Lennaert affirmed that INJ “feels like an absolute steal” at its current range, as he considers that the cryptocurrency is likely not going lower than the 2023 key support at around $5.5. The analyst suggested that if momentum flips to altcoins, INJ’s price “will be back at the highs in no time,” adding that it has “one of the strongest fundamentals of all projects out there.” Related Reading: $25 Million Pledge From Ripple Set To Benefit Teachers And Students Across The US Notably, the project announced that “For the first time ever, all of the Magnificent 7 stocks are live on-chain via Injective” to “redefine Wall Street and finance forever.” According to the May 6 statement, Apple’s APPL, Microsoft’s MSFT, Amazon’s AMZN, Nvidia’s NVDA, Meta’s META, Google’s GOOGL, and Tesla’s TSLA are now “fully tradable 24/7 through Injective’s iAsset framework and the decentralized exchange Helix. As of this writing, INJ trades at $9.25, a 27.2% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
INJ takes a spot among the largest cryptos with a financial product exposing it to traditional investors.
The price of Injective has increased by over 25% in the past week, from a low of $17 to $23.27 this morning. Recently, the cryptocurrency market has been trending positively, and the substantial increase in Bitcoin’s price is a significant factor in this price ascent. The upbeat perception of Bitcoin has been a significant factor in the success of altcoins. Injective is one of the most significant beneficiaries. Related Reading: Expert Foresees XRP Soaring To $250: Technical Analysis Explained A decent rise in trading volume has coincided with INJ’s price spike, suggesting increasing investor interest. With $512 million in 24-hour trading volume and a $2.17 billion market capitalisation, it is evident that injective is becoming more and more popular in the market. Expert Eyes $50 Goal The renowned cryptocurrency specialist, World of Charts, has expressed a favourable evaluation of Injective’s probable price trajectory. According to his research, INJ is now seeing an upward trend and is consolidating within a bullish continuation signal, namely a falling wedge formation. With its lower highs and lower lows, the falling wedge pattern implies that a breakout may be on the horizon. $Inj#Inj Is In Strong Uptrend Currently Consolidating Within Falling Wedge (Bullish Pattern) Injective Needs To Clear This Wedge To Continue Its Upside Move Incase Of Successful Breakout Expecting Move Towards 50$ In Coming Weeks#Crypto #Injective pic.twitter.com/oTkRdHdNes — World Of Charts (@WorldOfCharts1) July 15, 2024 World of Charts highlighted that Injective must effectively break out of its wedge pattern in order to resume its upward trajectory. A breakthrough would indicate that the consolidation phase is over and the rising trend is back on track. The expert anticipates that if this breakout happens, the price of INJ would rise over the next few weeks and approach $50. Ethereum ETFs: Will They Change The Injective Market? The market is getting even more excited because Ethereum ETFs will be available starting July 23. People think that this important event will give the market new hope, which will bring in new buyers and make more people want to buy cryptocurrency. As expected, the release of Ethereum ETFs will cause the price of Injective to go through the roof. People who follow the market are very positive about how Ethereum ETFs might affect it. The expected influx of big investors and the ease of access to Ethereum-related assets may cause the values of altcoins to rise. INJ Price Prediction: A Positive Sight By August 16, 2024, Injective is seen rising by 220% to $83.77. As we speak, th coin has a 69 score on the Fear & Greed Index. Having a price range of 6.60%, injective has had 15 out of 30 “green days” during the past 30 days. These factors indicate that the altcoin could see significant increase in the next months. Due to the fact that the cryptocurrency industry is still expanding, Injective is in a favourable position to profit from the current bullishness as well as the market triggers that are going to occur in the near future. Related Reading: Shiba Inu Prepares For Major Burn As Liquidity Surpasses $800 Million Strong fundamental trends, a positive market mood, and big events like the launch of Ethereum ETFs have all contributed to an environment that is conducive for Injective’s price performance. Featured image from Injective, chart from TradingView
Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is voting on a proposal to significantly reshape the platform’s tokenomics and introduce a new era dubbed Injective 3.0. According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate. Community Voting On Injective 3.0 Over the months since launching in 2023, Injective caught the crypto community’s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible environment. Though INJ, the native currency of the platform, remains one of the top performers, changes introduced by Injective 3.0 will likely push prices even higher. According to developers, Injective 3.0 aims to make INJ a deflationary asset. A big part of this will be to reduce token minting by controlling the rate of token creation. If the community approves what’s laid out in the proposal, the team will change on-chain parameters to slow down token minting. Related Reading: Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving At the same time, Injective 3.0 plans to make INJ’s inflation rate more responsive to staking. Under this model, inflation will slow down as more INJ is locked away via staking, making the coin scarcer. Proposers predict the network to be more robust and secure if INJ becomes more deflationary. Usually, token prices of scarce assets tend to be higher. However, it should be noted that changes to tokenomics don’t immediately lead to favorable price repricing. For prices to soar, there must be utility, driven mainly by community interest. Millions Of INJ Burned, Will Prices Break $30? Injective 2.0 is currently live following its activation in August 2023. Under the current regime, there is a token auction burn, where decentralized applications (dapps) running on the platform are free to participate in token burning. According to the Injective Protocol, over 5.9 million INJ have been withdrawn. So far, INJ remains under pressure, sliding down, shedding 50% from March 2024 highs. The coin has been moving horizontally in the past few trading sessions. However, it is under immense selling and within the April 12 bear bar. Related Reading: Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO The level at $30 is a crucial resistance level. Conversely, if INJ prices dip below this week’s lows at $23, the coin will slip towards April 13 lows of around $18. Feature image from Canva, chart from TradingView
Injective Protocol, a decentralized finance-centric platform, has launched TokenStation. In a blog post on March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would empower anyone to create their tokens in a low-fee and scalable environment. Injective Launches TokenStation, Strikes Key Partnership The tool was developed by the Injective community and aims to “remove barrier to entry for token creation.” Like the token creation tools on Solana and Ethereum, for example, using TokenStation, part of the blog post won’t require coding experience. Related Reading: Top Reasons Why The Bitcoin Price Crashed Below $63,000 This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool allows token management and integration of tokenomics mechanisms like burning. The blockchain is launching the TokenStation days after partnering with AltLayer, a platform backed by Binance Labs dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications. The recently launched inEVM allows developers to seamlessly build applications leveraging the high scalability and near-zero fees on Injective. Additionally, the inEVM is set to increase composability between WebAssembly (WASM) and EVM environments. Through this unique feature, Injective can bridge the interoperability of Cosmos, the developer activity of Ethereum, and the high scalability of Solana. Will Volan Help Prop Up INJ Prices? In January, Injective Protocol activated the Volan Upgrade, setting the platform’s plans to build a robust real-world tokenization infrastructure into motion. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens. Additionally, Volan modified INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols, including BNB and Ethereum. Related Reading: Shiba Inu Ecosystem Blooms: BONE Jumps 44% With $3 Target In Sight While the upgrade and subsequent partnerships have lifted its prominence in decentralized finance (DeFi), growth has been slower than expected. So far, DeFiLlama data shows that Injective Protocol commands a total value locked (TVL) of less than $65 million. This is miles behind Solana or Ethereum, two of the world’s most active smart contract platforms where active DeFi protocols also thrive. Meanwhile, INJ prices, although relatively higher, are under pressure, as seen in the candlestick arrangement in the daily chart. INJ is down 30% from 2024 highs, slipping and following Bitcoin. However, the coin is within a broader consolidation. Resistance and support levels are around $44 and $30, respectively. Feature image from Canva, chart from TradingView