Injective (INJ) is moving in a bearish price trajectory as the general trend in the crypto market has begun to shift bearish. According to CoinMarketCap, the INJ price has declined by 2.55% over the last 24 hours and 2.16% over the last week.
At the time of writing, INJ is trading at $3.27, with a trading volume of $50.19 million, which has declined slightly by 9.36% over the last 24 hours. However, its market capitalization stands at $327.46 million, which is also down by 2.51%.
Source: CoinMarketCap
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INJ Price Surges After Breakout, Eyes $3.60 Target
Furthermore, the crypto analyst Dragon Knight pointed out that INJ is showing early signs of a trend reversal after a prolonged downtrend, with price action grinding higher on strengthening bullish momentum.
A decisive breakout above the $3.33 resistance level marks a shift in structure, suggesting buyers are regaining control. This move could redefine near-term sentiment and attract renewed trader interest.
Source: Dragon Knight’s X Post
From a technical perspective, the $3.27 to $3.20 zone now acts as key support and must hold to sustain the upward move.
On the upside, traders are watching $3.36 and $3.44 as immediate targets, followed by $3.60 on the daily timeframe. Continued volume and momentum will be essential for confirming further bullish continuation.
In spite of heightened concerns in the market, Bitcoin remains strong above the $76,000 level on the back of institutional capital inflows.
In parallel, Injective gains a fundamental boost through the launch of futures that are regulated by the Commodity Futures Trading Commission. These factors, combined together, indicate a potential for a more significant upward move.
Momentum Indicators Point to Improving Strength
According to TradingView, the INJ technical setup indicates a significant turnaround after a long period of decline.
Following its fall to lows near the level of $2.75 in April, the price has established support and formed a series of rising lows. Currently trading at $3.26, the asset is now on the brink of meeting an important historical resistance.
Source: TradingView
Technical indicators support the conservative yet positive technical outlook. The RSI is at a level of 57.18, suggesting solid buying pressure on the token that has room to run.
However, the signal line in the MACD continues its upward trajectory and is confirmed by positive green histogram bars, which indicate the presence of bullish momentum in the asset.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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