TL;DR
- INJ defends $12.5 support zone; failure risks $11.5, while reclaiming $14 could revive bullish momentum.
- Analyst Ali Martinez warns of a breakdown from an ascending triangle, mapping downside targets as low as $8.22.
- On-chain activity surges with $62.6B traded, while the SEC reviews a proposal for a potential INJ ETF.
INJ Holds at Key Support
Injective (INJ) is trading at around $13, showing a daily decline of 2% and a weekly drop of 2%. The token is holding above the $12.5–$12.7 support band, a zone that has acted as a base in recent sessions. Analyst Alpha Crypto Signal described this level as decisive.
“If buyers defend this zone, a short-term bounce toward 13.1–13.9 is possible,” they said.
A breakdown, however, could send the price into the $11.8–$11.5 area, where prior consolidation took place.
The daily chart shows the EMA 9 at $13.09 and the SMA 50 at $13.92, forming the first resistance cluster above current levels. A push through this zone would be the first step toward recovery .
Alpha Crypto Signal added,
“The structure stays neutral-to-bearish unless INJ reclaims 14+ with strong volume.”
Until that happens, price action remains fragile, with $12.5 as the make-or-break point.
Bearish Breakdown Scenario
Martinez presented a different view, pointing to a breakdown from an ascending triangle that had guided INJ since March. The loss of the trendline, he said, confirms a bearish shift.
He marked possible retracement levels at $11.66, $10.53, $9.51, and $8.22. “This breakdown sets up INJ for a move toward $8,” he stated. His chart suggests that temporary rebounds may occur, but overall pressure remains to the downside unless the trendline is recovered.
Market Activity and Community Updates
While traders debate near-term direction, Injective’s ecosystem continues to expand. Analyst CryptoBusy observed that every major rally in INJ has started with extended consolidation, followed by sharp expansion. He noted that momentum indicators such as the MACD are flattening, which could hint at a shift.
Elsewhere, Renksi reported $62.6 billion in on-chain trading volume, citing steady flow through trades, burns, and blocks. Injective itself confirmed that the SEC opened a comment period on a potential INJ ETF and that community members have launched new initiatives in Japan.
