Injective Prepares For Bullish Reversal Amid 25% Recovery – Analyst Forecasts Massive Breakout

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.

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.

Injective

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.

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.

Injective, INJUSDT, INJ

Injective (INJ) Gearing Up For $10 Level Retest – Is A Bullish Reversal Ahead?

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.

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.

injective

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.

injective

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.”

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.

injective, INJ, INJUSDT

Injective Integrates Fetch.ai And ASI: Why Is INJ Down?

Injective, the DeFi-centric protocol, has recently made major moves. Besides boasting of high throughput and low fees while protecting traders from maximal extractive value (MEV) bots, the platform has been striking key partnerships.

Injective Integrates With Fetch.ai And ASI

This week, the proposal by Fetch.ai and the Artificial Superintelligence Alliance (ASI) community to integrate Injective was passed synonymously. The proposal passed with 100% of the votes agreeing with the move.

Looking at voting data, over 324 million FET voted to endorse the idea, with only 656 FET rejecting it. No one voted to abstain or veto. Voting started on October 23 and ended five days later on October 28.

Fetch.ai and ASI agree to partner with Injective | Source: MintScan

According to the proposal, the goal is to revive the expired IBC client for Injective under “Revive expired IBC client for Injective.” In this way, Fetch.ai, now part of the ASI Alliance, can harness the power of AI within the sprawling Injective DeFi ecosystem.

This arrangement will allow Fech.ai, an AI-centric platform, to directly plug its machine learning and AI capabilities into the Injective platform.

Out of this, users will benefit from streamlined and leveraged AI-enabled tools when trading. The team also said they would benefit from improved liquidity management and asset allocation.

Even with this deal, Injective and ASI will continue operating independently. The integration isn’t a merger but an Injective tapping into ASI’s AI capabilities.

Why Is INJ Down?

Bullish as this may be, INJ prices ticked lower, looking at the events in the daily chart. Injective bulls have yet to reverse losses posted on October 25 comprehensively. Accordingly, despite the series of higher highs over the weekend and in the first half of the week, sellers are in control.

Injective price trending sideways on the daily chart | Source: INJUSDT on Binance, TradingView

So far, INJ is down 20% from October highs and continues consolidating inside a $10 zone. Clear resistance is around $25, while support is at $15. If the bulls of Q1 2024 flow back, momentum will likely pick up once buyers break above the $25 level, preferably with increasing engagement.

Besides improving crypto sentiment and rising total value locked (TVL) across DeFi, INJ could benefit from Injective’s core feature.

The protocol has the highest revenue-to-fully diluted valuation (FDV) ratio, even better than Ethereum.

The high metric translates to Injective boasting of an efficient revenue generation mechanism that could further boost prices.

Injective Generated More Revenue Than BNB Chain, Avalanche In Q3 2024, Next $50?

Injective Protocol, a DeFi-centric platform using Cosmos tech, is gaining traction, looking at the gas fee revenue distributed to its validators in Q3 2024.

While INJ, the native currency of the protocol, is under pressure, cooling off after rallying to as high as $52 early this year, the recent development is a huge confidence boost. Looking at trends may signal that more users are flowing to Injective, a net positive for INJ in the coming sessions.

Injective Generates More Revenue Than The BNB Chain, Avalanche

According to CryptoRank data, Injective Protocol generated $4 million in revenue derived from gas fees. Every transfer or smart contract deployment attracts a gas fee like every other public ledger like Bitcoin or Solana. This fee is distributed to the winning validator or miner as an incentive to operate a node.

Injective Protocol generates more fees than BNB Chain, Avalanche | Source: @CryptoRank_io via X

With $4 million in revenue, Injective created more than the BNB Chain, one of the largest blockchains by market cap, and Avalanche, a network in the top 20, according to CoinMarketCap. These platforms generated $3.4 million and $2.1 million, respectively.

At this level, Injective also surpassed what some of the top Ethereum layer-2 solutions like Arbitrum, Optimism, and Blast generated over this period. For comparison, Arbitrum, despite being the largest and managing over $13.2 billion, according to L2Beat.

Ethereum layer-2 TVL | Source: L2Beat

Ethereum, Tron, Solana, and Base churned more revenue than Injective. Ethereum funneled $159 million to its validators from July through September, while Tron and Solana cumulatively moved over $200 million.

The expansion of revenue, mostly from Tron, a scalable platform, is due to the meme coin activity on its network following the launch of SunPump in August. At the same time, Solana also benefited from meme coins and an uptick in decentralized exchange (DEX) volume over this period.

Will INJ Rise To $50?

It remains to be seen whether the recovery of DeFi activities while boosting Injective and its total value locked (TVL). As of October 8, the protocol manages over $40 million, looking at DeFiLlama data. At the same time, the platform has processed over 1 billion onchain transactions.

In early October, Injective announced the launch of Injective 3.0. This upgrade allows the protocol to change its tokenomics and make INJ deflationary. With this activation, a portion of INJ will be removed from circulation, making it more scarce.

INJ price trending sideways on the daily chart | Source: INJUSDT on Binance, TradingView

Presently, INJ is inside a descending channel, finding support at $15. While buyers of Q1 2024 are still in the picture, the token is down 60% from March highs. A break above this descending channel could see the coin soar to 2024 highs of around $52.

Injective (INJ) Down 20% As Market Retracement Forces Sell-Off

As the market buckles under the weight of the bearish sentiment, the altcoin market is continually being pulled further down forcing losses to altcoin holders. Injective is one of those altcoins facing massive losses with the token’s price slashed by 20% since last week, representing a strong bearish sentiment in INJ’s market. 

Despite the market’s underperformance, the platform continues to cement itself as a premier Layer 1. Although the losses for investors and traders are painful, continued developments like these will stabilize the shaken investor confidence in both Injective and the token. 

Network Metrics Show Stable Growth 

October started wonderfully for Injective as the platform announced that the network had processed a whopping 1 billion total transactions. This metric shows that the network can cater to a growing number of users which also grew in conjunction with the transactions. 

Injective Hub, an X account dedicated to showing the latest developments on the platform, recently shared that Injective experienced a huge growth spurt in active addresses. According to the post, the platform encountered an astonishing 126%  average active address growth, ranking Injective to be top 1 in the metric outpacing the likes of Sei, Ethereum, Base, and Solana. 

This month, investors and traders should expect more users in the coming weeks as Injective enters into a partnership with Caldera, an Ethereum roll-up platform, becoming a part of Metalayer. This interoperability layer enables omnichain operability for users of the platform. This will enable a new generation of interoperability for the participating blockchains and Injective, introducing the platform to new users on Metalayer. 

Injective Poised For Higher Levels

As of writing, INJ is trading on a green candle as the bulls attempt to break through the $19.94 resistance level in the short term which might be the sign investors and traders are waiting for in the coming days.

The relative strength index also suggests this thesis. Right now, the token is entering a possible reversal area that will affect the growing bullish momentum. The past few days have been bloody for INJ, but the market’s strength coupled with strong on-chain development will affect the token’s price positively in the coming weeks.

INJ’s significant correlation with Bitcoin and the broader market will also play a big role on the token’s future performance. If the major cryptocurrencies continue to slip in the coming days, investors and traders should expect INJ to experience a drop towards $17.71. However, a return to bullishness in the next couple of days will drive the token to stabilize on its current support at level at $18.57.

Featured image from Medium, chart from TradingView

Altcoin Watch: Mega Whales Are Taking These Alts Off Exchanges

On-chain data shows the whales of these altcoins have been shifting their supply from exchanges to cold wallets recently, a sign that may be bullish for their prices.

Whales Of These Altcoins Have Been Moving Into Self-Custody Recently

In a new post on X, the on-chain analytics firm Santiment has discussed the trend in the Top Exchange/Non-Exchange Wallet Holdings for three altcoins: Polygon (MATIC), Injective (INJ), and Render (RENDER).

The “Top Exchange/Non-Exchange Wallet Holdings” here refers to an indicator that keeps track of the ratio between the balance of the ten largest wallets associated with centralized exchanges and that of the ten largest self-custodial addresses.

The ten largest wallets of either type would naturally belong to the whales, the largest of the entities in the sector. In fact, these addresses wouldn’t be just any ordinary whales, but rather investors that are humongous even by whale standards.

As such, the Top Exchange/Non-Exchange Wallet Holdings tells us about how the supply held by the exchange-related mega whales compares against the ones keeping their coins in cold wallets.

Below is the chart shared by Santiment that shows the trend in this indicator for the altcoins over the last couple of years:

Altcoin Mega Whales

As is visible in the above graph, the Top Exchange/Non-Exchange Wallet Holdings has registered sharp plunges for all three of these altcoins in the last two years, with Polygon seeing the latest one.

The plunge in question had come for MATIC on the 9th of this month, with the mega whales moving a pretty significant amount to self-custody. In the days since then, the indicator has continued to decline for the altcoin, although the scale of the drawdown has been nowhere near what was witnessed during the aforementioned plummet.

Render’s mega whales made a massive transfer towards cold wallets back on the 21st of July, and the ratio has since maintained at low levels. INJ’s plunge was much earlier, back on August 21st of last year, but the large hands have continued to gradually offload more supply from exchanges since then.

Generally, investors keep their coins in the custody of exchanges whenever they plan to participate in trading activities in the near term. Thus, the exchange supply of any asset may be considered as a reflection of its potential sell supply.

In this view, the shift that the mega whales of these altcoins have shown towards self-custody can be a bullish sign. The indicator may be to monitor in the near future, however, as any reversals would imply that the mega whales want to sell again and, hence, that a bearish outcome may be waiting for the coins instead.

Render Price

At the time of writing, Render is floating around $4.8, down 8% over the past week.

Altcoin Render Price Chart

Injective (INJ) Breaks $18 Resistance: Investors Expect Higher Prices

Injective (INJ) has been outperforming the broader crypto market in recent hours, gaining over 19% since Monday, while most cryptocurrencies have experienced declines of 2% to 4% since yesterday. 

This strong performance comes after the altcoin broke through the $18 resistance level, signaling bullish momentum. Investors and analysts are now eyeing higher prices for INJ, with some suggesting it could be poised for even more significant gains shortly.

However, INJ must test key supply levels and establish support within critical demand zones for this uptrend to continue. The current optimism surrounding Injective is backed by encouraging price action, but sustained upward movement will be needed to confirm a lasting trend. 

As the market watches closely, INJ’s ability to hold these levels may determine its potential for further growth in the coming days.

Injective Setting New Local Highs 

Injective (INJ) has experienced a strong surge after days of choppy and uncertain price action. Now, trading above the 4-hour $18 resistance, the altcoin has ignited excitement among investors and analysts, who believe INJ could be a top performer in this market cycle. 

One notable analyst, Crypto General on X, has shared his technical perspective on INJ, setting high expectations for a $53 price target in the coming months. His analysis points out that INJ is currently rebounding from its lower trendline support, a critical level that has served as a foundation for this rally. 

INJ holding above $16 suggests higher prices.

According to Crypto General, INJ could experience a powerful upward movement if this support holds. However, he also warns that if the price fails to maintain this level, we could see a decline toward the $14 range, which would signal a reversal of recent gains.

Investors are carefully watching this development, as INJ’s recent price action could set the stage for more significant moves in the near term.

The key will be whether INJ maintains its momentum and breaks through resistance levels. If bulls can push the price above its next resistance zone, a rally toward the mid-$20 range could be on the horizon, further solidifying its position in the market.

As the market establishes its direction, price action in the coming days will play a pivotal role in determining INJ’s performance in the weeks ahead. Whether it continues to rise or faces a pullback will likely depend on broader market conditions and the ability of bulls to sustain upward momentum.

INJ Price Action Details 

INJ is trading at $19.38 after a significant surge from yearly lows near $15. This upward movement has propelled the price above the 4-hour 200 exponential moving average (EMA) at $18.41 for the first time since late August.

INJ trading above the 4H 200 EMA.

The 4H 200 EMA is a crucial indicator of short-term market strength. If INJ can successfully retest and hold above this level, it would suggest a bullish continuation, signaling that further upward momentum is likely.

Maintaining this position above the 4H 200 EMA would allow INJ to target higher price levels, with resistance and supply zones near $23 as the next key hurdle.

However, if the price fails to hold this level and loses support at $18, a retrace toward lower demand zones around $16 could occur. In the short term, how INJ behaves around the 4H 200 EMA will be pivotal in shaping its next price action phase.

Featured image from Dall-E, chart from TradingView

Market Slip Drags Injective Down 16% Despite Ongoing Developments

With the market resuming its bearishness today, August 30th, Injective continues to slip and slide. According to CoinGecko, INJ took a nose dive by 16% which slashed any hopes of a short-term recovery.

Although the token’s performance leaves much to be desired, developments on-chain continue to unfold, cementing Injective’s position within the community. Several developments hold the bay against the bears, but the question of when will INJ and the market recover remains. 

Injective Announces Release Of Web-Based IDE: Remix Web 

In a recent X post, Injective announced the release of the Remix Web IDE, an IDE that is entirely web-based providing developers the flexibility needed to develop powerful on-chain applications. To access the tool, simply visit the website and start building. 

This revolutionary take on development lowers the bar in building within the Injective ecosystem and provides an example for other networks to follow. According to the blog, the web plugin also has code templates, providing newbies on the platform to create and deploy applications and smart contracts seamlessly. 

According to Shayan, the Developer Relations Manager at Injective Labs, one of the biggest struggles of developers is properly installing software dedicated to coding. 

“That’s why the new Remix IDE plugin is such a huge breakthrough. No more headaches dealing with making sure you have the latest versions of Rust or Go installed, whether you’ve selected the ARM or x86 binaries, etc,” said Shayan in his recent X post

The flexibility afforded by this recent addition to the platform means a new era of development for Injective with both new and experienced developers building on-chain apps and smart contracts on the platform. 

Helios-Injective Collabathon To Set New Heights On Web3 Finance

Another development that piqued the interest of both investors and developers is Injective’s partnership with Helios, a Staking-as-a-Service provider, that is already a part of the former’s network as a validator. 

According to Helios’s blog post, the “Collabathon” will feature seasoned developers on both sides with a single goal of solving cross-chain identity verification, a challenge which, according to Helios, “will empower projects to confirm singular wallet ownership across multiple chains, enhancing interoperability and user experience.”

The 10-day Collabathon will occur next week, September 2nd. 

INJ Revisits $18.02 For Upside Potential 

As of this writing, INJ’s trajectory puts it just below $18.02. This revisit of a crucial price ceiling might trigger a rally soon. However, this possibility is hinged on the market’s uncertain movement, which currently screams hawkish. 

With this in mind, INJ does have the potential to regain ground in the medium term given that the market flips bullish in the same timeframe. The token’s relative strength index indicates low volatility in the market as both bulls and bears gather momentum for a breakthrough.

In the long term, INJ bulls can target $23.37 to regain lost momentum. However, investors and traders should still exercise caution as the broader market may swing downward depending on the overall sentiment. 

Featured image from Pexels, chart from TradingView

Injective (INJ) Skyrockets 21% As Proponents Weigh In On New Developments

Injective piques investors’ interest as on-chain developments continue on the platform. These new integrations and information excite investors, bumping the token’s price by over 21%. The continuous positive developments are expected to further steer the INJ on the bullish path.

Given the conditions and positive developments of Injective, its investors and traders have chosen the status of INJ as a prime crypto for its native token, providing values to users and traders.

‘Fastest Layer 1 Blockchain’ Slashed Blocktimes To Just 0.65 Seconds

Injective recently posted a thread detailing the platform’s most recent achievement: slashing finality times to just 0.65 seconds. The platform’s finality times were compared to other layer 1 blockchains like Near, BNB, and Ethereum. According to the thread, the network’s finality times are caused by “carefully engineered optimizations focused on several key areas from optimized state synchronization and data handling to enhanced resource management.”

This helps improve user experience on-chain while providing developers with a robust platform to build on. Another aspect that Injective is looking towards is the institutional aspect of crypto. The extremely low block times will help attract traditional financial institutions to the platform with speeds rivaling that of the top crypto networks. 

Injective Integrates With Balance, Expanding Network Services

This week, Injective also announced the integration of Balance, a cross-chain decentralized finance platform (DeFI), on the Injective mainnet. The integration opens new opportunities for investors and traders as it introduces new assets like bnUSD, Balance’s native stablecoin. 

The partnership also enables overcollateralized loans on the platform. This enables users to use any asset as collateral, giving them up to two-thirds of the collateral’s value as a loan. With a low 2% fixed interest, users on the platform can flexible loan terms with fast block time finality with Injective. 

INJ Faces Rejection On This Level, But With A Possible Rebound

As of press time, the token’s momentum, although still significantly bullish, is facing rejection on the $0.39 ceiling, trapping the token in the narrow $0.36-$0.39 range. This range might pressure the bulls to lose momentum in the short term. 

At this point, the token’s correlation with Bitcoin and its most recent developments has squeezed the last bit of bullishness out of INJ, possibly opening the doors to a downward trajectory in the coming days. 

With the relative strength index signaling that the bulls are nearly or already exhausted, investors and traders should expect the bears to attempt a breakthrough on the $0.36 floor before stabilizing on the token’s current trading range. If the bulls are unsuccessful in defending this trading range, the price floor of Injective might move back to $0.32 soon. 

Featured image from Snopes, chart from TradingView

Injective (INJ) Bounces Back: Investor Momentum Sparks 12% Rally

Injective starts the day with a bang as INJ, the platform’s native token gained over 12% in the past 24 hours. This can be attributed to the market’s surprising rally, complemented by a  market cap that is up by over 6% after its dip earlier this week. 

The rally is also due to Injective’s recent achievements that spur some buzz within and outside their community. Investors might find some value on INJ as it continues to grow and innovate. 

Utila Announces Support For Injective Ecosystem

Today, the institutional wallet and blockchain infrastructure-focused Utila announced its support for the Injective ecosystem. The move came after Utila acknowledged several features that make it attractive for itself and for organizations that use the platform. 

“Renowned for its plug-and-play infrastructure, Injective enables the rapid deployment of sophisticated functionalities into applications, encompassing decentralized trading, lending, real-world assets (RWAs), and more,” stated Utila in their announcement post on X. 

This will grow the Injective user base to not only include retail investors and crypto enthusiasts. It will help the platform grow more maturely, getting institutional-level attention through the use of its robust network while also benefiting from Utila’s strong security as well. 

With interest in crypto increasing in traditional finance, the growing convenience of onboarding crypto into their portfolios will make a huge difference. This has occurred already, with more and more crypto-based exchange-traded funds (ETFs) being announced since then.

INJ Trading At A Trendline Pointing Upward

Looking at INJ’s chart, the token is currently situated on its late-November 2023 level that preceded the December rally occurring that same year. If it were to happen again, investors  might see huge gains in the long term as the market warms up for more action. 

However, INJ bulls are facing slight resistance on $18.02 as the candle flips red. This difficulty might slow the bullish momentum, lowering volatility as the token floats between $18.02 and $21.16. A slight pause might transpire in the short term as bulls take advantage of the low volatility to gain momentum once more. 

As recession fears die down along the way, bullishness in traditional finance might continue with major indices like the S&P 500 and the Dow Jones spotted making gains which has a huge upside probability in the long run. But analysts like 8th Wonder believes that the current rally is a short squeeze as the current movement is a classic squeeze: a sharp and short uptick in price before being followed by a free fall.

If the price of major cryptocurrencies are in fact in a short squeeze, investors will inevitably feel pain in the long run. 

Featured image from Facts.net, chart from TradingView

Injective (INJ) Breaches Key Resistance, Setting Stage For 1,350% Boom — Analyst

Recently, injective (INJ) has undergone explosive growth, pushing itself to unprecedented heights and drawing interest both from experts and bitcoin aficionados. Over the past week, the digital asset has jumped about 32%, and a measly 1% in the last day.

INJ, at the time of writing, was trading at $26.17. A chance that its price will explode, going as high as $380, could be in the cards. Here, we break down the factors that have led to INJ’s great success and talk about what might happen in the future for this growing digital currency asset.

Injective: Positive Patterns

Given recent increases in Bitcoin, Injective’s remarkable price surge coincides with a bullish trend in the larger cryptocurrency market. The general market mood is rather optimistic, which provides a rich environment for alternative currencies like INJ to flourish.

Analysts are attributing this increase to the arrival of Ethereum ETFs on July 23rd as well as favorable market circumstances. This next event is likely to intensify investor interest in the crypto market, therefore benefiting altcoins and increasing their attractiveness among investors.

As more buyers flock to Ethereum ETFs and the demand for altcoins rises, they will bring new life to the market. As a result of its recent gains and overall good progress, injective is well-positioned to make money from this trend.

There have been over $600 million worth of trades in bitcoin in the last 24 hours, giving it a market value of $2.44 billion. As the market for cryptocurrencies continues to grow, INJ’s rising trend could lead to even bigger price changes in the near future.

Technical Indicators Signal Greater Upside

Technical study by eminent bitcoin expert Javon Marks fuels even more the hope around Injective. Marks has found in INJ’s price charts a Hidden Bull Divergence pattern, a technical indication of great bullish momentum.

After INJ’s price crossed a historical resistance point often indicating possible for significant upward movement, an important logarithmic level of $21.65, this pattern has developed.

Marks’ examination reveals INJ’s amazing upside potential given its target price of $380. From existing trading levels, this prediction shows an amazing 1,350% rise. Excited traders and investors have responded to the Hidden Bull Divergence as they see this technical pattern as a good signal of future price rise.

Should INJ keep on its optimistic trajectory, it may make incredible profits and confirm its leadership among the players in the cryptocurrency scene.

Investor Mood And Short-Term Forecast

Looking ahead, Injective’s short-term projection is also really positive. Technical indications and a Fear & Greed Index reading of 60, which shows a strong sense of greed and optimism among investors, reinforce the generally positive attitude of the present. Recent forecasts see INJ rising by 228.76% to reach $86.92 by August 18, 2024.

Featured image from Mel Magazine, chart from TradingView

$50 Injection? Analyst Bullish On Injective After 25% Surge

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.

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.

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.

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

$36 On The Crosshair: Injective (INJ) Captures Analyst’s Attention

Injective, or INJ, has lately been causing waves in the crypto scene. Many analysts are hopeful about its future even if it has lately dropped. At $20.45 right now, INJ has a market capitalization of $1.91 billion and a daily trading volume of $375.74 million.

Analyst Upbeat About Injective

Respected expert Jonathan Carter feels INJ is beginning to show indications of recovery. It’s deviating from a declining wedge pattern, he notes, which usually marks the conclusion of a downturn. Carter said INJ may soon reach $36 if it breaks over some technical thresholds.

Other professionals see this favorably. They stress the need of keeping above the $16.5 to $18 area as INJ is creating a firm bottom and should be kept above such level. Should it sustain this level, they believe it might shoot up to $30, barring any negative pressures.

INJ Staking Power

High staking payouts are one of INJ’s strongest appeals. With an annual percentage yield (APY) of about 20%, it appeals far more than many other cryptocurrencies and conventional financial instruments. Ethereum provides around 3.3% APY, whereas Solana provides roughly 7%.

Assuming the rate remains constant, a $100,000 investment in INJ may perhaps result in $20,000 in yearly incentives. Both novice and seasoned investors seeking for passive income sources are drawn to its great return potential.

INJ Price Performance So Far

Still, one should keep in mind the volatility of the crypto market. When INJ jumped over 1,000% in 2023, its performance in 2024 was poor in comparison. Following a peak in March of $52.96, it has dropped more than 62% to its present level. The erratic character of digital asset investments is highlighted by this clear difference.

Meanwhile, technical indicators and the dread & Greed Index point to a negative current market atmosphere. Although some estimates indicate INJ may reach $64.27 by August 2024, one should use great caution with these projections.

Though optimistic long-term forecasts, given the contradictory signals and pessimistic attitude it might not be the best moment to buy INJ. The natural volatility of the crypto market implies that, even if great rewards are possible, there is also a chance of major losses. At least, this is the forecast of crypto prediction platform CoinCodex as of today.

In essence, Injective offers a fascinating possibility with its high staking payouts and expansion possibility. Still, it has significant drawdowns, much like any crypto investments. Before making any decisions, prospective investors should give their risk tolerance much thought and conduct extensive study. The crypto market is fast changing, hence what looks like a wise investment now might not look like such tomorrow.

Featured image from Vecteezy, chart from TradingView

Injective (INJ) Price Prediction: Analyst Foresees Huge Jump To $380

Injective (INJ), a project known for its cross-chain derivatives protocol, is grabbing headlines after crypto analyst Javon Marks released a bullish prediction. Marks, a popular figure in the crypto space, believes INJ is poised for a “monstrous rally” towards a staggering $380 target.

This optimistic outlook comes amidst a generally volatile cryptocurrency market, leaving investors to wonder: is Injective really hurtling towards the moon, or is this a case of overzealous enthusiasm?

Technical Twinkle: Hidden Bullish Divergence Fuels Optimism

Marks’ prediction hinges on a technical indicator known as “hidden bullish divergence.” In layman’s terms, this suggests a potential disconnect between the asset’s price and a technical measure of its momentum. While the price might be dipping, the momentum indicator could be hinting at an underlying bullish trend waiting to erupt.

Think of it like a coiled spring – the price may be compressing (going down slightly), but the indicator is suggesting the spring is building tension, and an upward surge could be imminent. This divergence between price and momentum is why it’s called “hidden” – the bullishness is there, but it’s not as clear-cut as a straight price increase.

Marks sees this potential for a reversal in INJ, pointing to a retest of the $21.65 price point as a crucial signal. This level has previously acted as support, and a successful retest could be the launchpad for a significant upswing.

DeFi Darling: Injective’s Allure In A Volatile Market

Injective’s bullish potential extends beyond just technical indicators. The project has carved a niche for itself in the Decentralized Finance (DeFi) landscape with its innovative cross-chain derivatives protocol.

This allows users to trade derivatives – financial contracts derived from the value of underlying assets – across different blockchains. This functionality caters to a growing demand for sophisticated DeFi tools, potentially attracting a wider user base and driving up INJ’s value.


Investor Insight: Soaring To $380 Or Crash Landing?

While Marks’ analysis paints a rosy picture for INJ, it’s important to remember the inherent volatility of the cryptocurrency market. Reaching a price tag of $380 would represent a phenomenal increase from its current price point.

Historical trends show that cryptocurrencies can experience explosive price fluctuations, but these can also be followed by dramatic corrections.

Featured image from Reddot Media, chart from TradingView

Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst

In an analysis shared on X, renowned crypto analyst Josh Olszewicz (@CarpeNoctom) forecasts a significant 33% rise in the price of Injective (INJ) based on a classic bullish chart pattern known as the inverted head and shoulders (iH&S). The chart suggests a strong reversal possibility from recent bearish trends, potentially steering the cryptocurrency’s price to new local highs.

Injective Price Prepares For Lift-Off

The iH&S pattern, prominently featured in Olszewicz’s chart, is a revered formation among technical analysts for predicting bullish reversals following a downward trend. This pattern is identified by three troughs: the middle trough (head) being the deepest and flanked by two shallower troughs (shoulders), which are approximately of similar depth.

On the chart, the left shoulder forms around mid-April, dipping below $23.50. The head is seen in May, dropping to a low near $21.08. The formation completes with the right shoulder in early June, reaching down around $23.90, mirroring the left shoulder.

Injective INJ price analysis

The neckline, which is a key component in this pattern, is drawn across the peaks that connect the shoulders and the head. On Olszewicz’s chart, this line is positioned at approximately $28.70. A breakout above this neckline is typically interpreted as confirmation of the pattern’s completion and an impending bullish trend. According to the chart, the price of INJ is about to break above this critical threshold.

The analyst’s chart also integrates the Ichimoku Cloud, which provides a dynamic look at potential support and resistance areas. Presently, the price of INJ is hovering near the lower edge of a red cloud, indicating an upcoming resistance zone, which traders might watch closely.

Further enriching the analysis are the Fibonacci extension levels drawn from the lowest point of the head to the neckline of the iH&S pattern. These levels project potential price targets if the bullish breakout is confirmed. The 1.618 Fibonacci extension is marked at $34.74, and a more ambitious 2.0 extension reaches $39.09. These targets represent potential resistance levels where traders might take profits, hence they are crucial for understanding possible future price movements.

Josh Olszewicz’s reliance on the iH&S pattern combined with other technical indicators such as the Ichimoku Cloud and Fibonacci extensions presents a comprehensive view. This analysis suggests that INJ’s price could escalate towards $34.74 and might even extend to $39.09, marking a 33% increase from the current price.

Investors and traders need to monitor INJ’s price movement closely, keeping an eye on trading volumes and market sentiment which could either accelerate or hinder the predicted bullish momentum.

At press time, INJ traded at $29.51.

Injective price

Injective Market-Shaking News Drives INJ Price Up By 7% – Details

Injective, a Layer 1 (L1) protocol, emerged as one of the standout performers in the crypto market on Thursday, with its native token INJ experiencing a substantial 7% surge within the past 24 hours. 

Accompanying this surge, the protocol’s market capitalization is inching closer to the significant milestone of $3 billion. The price movement coincides with notable announcements by the Injective protocol regarding its token and ecosystem.

Injective Users To Burn 6 Million INJ

One of the key announcements unveiled by the protocol is the release of a comprehensive paper on the Injective Token, INJ. The paper delves into the token’s core utilities and mechanisms that power a programmable token economy, specifically focusing on deflationary acceleration. 

Additionally, Injective disclosed that INJ token burn auctions are “steadily increasing in size,” with 12,266 tokens being burned indefinitely on the announcement day. Injective users are set to burn a cumulative total of 6 million INJ by next week. 

This burning mechanism plays a key role in reducing the total supply of tokens in circulation, thereby increasing scarcity and potentially driving up the value of the remaining tokens. Ultimately, this benefits token holders by establishing a deflationary mechanism and controlling inflation within the protocol.

Injera And USDi Launch 

Injective also revealed that the anticipated launch of the Injera protocol is scheduled for the end of June, marking the beginning of “a new era for Injective,” according to the protocol. 

As announced, in collaboration with DojoSwap, a decentralized exchange (DEX) on Injective, the community will build Injera and USDi, the Injective Synthetic Dollar aimed at powering the Web3 ecosystem. The objective is to create a decentralized synthetic dollar token fully backed by Injective’s finance infrastructure. 

The Injera money market is at the core of the Injera protocol and USDi, designed as a collaterized debt position (CDP) market. This market optimizes capital efficiency for the USDi synthetic dollar by enabling sensible leveraging of USDi to borrow “market-making assets.”

USDi, the native synthetic dollar, will be governed by the Injera token (ERA). It is a stable synthetic USD generated through delta-neutral positions, ensuring stable yields ranging from 10% to 90% for USDi holders. 

For DojoSwap, this development ensures a continuous increase in TVL and trading volume, generating fee amounts for ecosystem participants.

Bullish Sentiment Returns

As these announcements were made, the INJ token successfully reclaimed the $28.68 price level, reigniting its bullish momentum after experiencing a price correction to the $20 mark in April. 

This correction occurred following the token’s remarkable achievement of reaching a new all-time high (ATH) of $52 in March.

In the immediate term, the $29 level may act as a hurdle for the token, representing a significant resistance point that has persisted for the past two months. 

However, if the bullish momentum continues, the token could surpass this resistance and retest the $31 and $35 resistance levels on the INJ/USD daily chart.

Injective

Ultimately, the ongoing advancements within the Injective ecosystem have generated anticipation regarding the token’s future trajectory. Market participants are keen to see whether these developments can fuel a sustained upward trend and potentially surpass the previously achieved record levels.

Featured image from DALL-E, chart from TradingView.com