Injective (INJ) is trading near $3.27 following a 2.55% daily decline, aligning with broader crypto market pressures. Key technical support sits between $3.27 and $3.20. However, momentum indicators like an RSI of 57.18 and a positive MACD signal suggest strengthening buying pressure and early signs of a potential trend reversal, with traders eyeing a $3.60 target.
Injective (INJ) is moving in a bearish trajectory as the general crypto market trend shifts. According to CoinMarketCap, the INJ price 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 24-hour trading volume of approximately $50.2 million.
The crypto analyst known as Dragon Knight pointed out that INJ is showing early signs of a trend reversal after a prolonged downtrend. “A decisive breakout above the $3.33 resistance level marks a shift in structure, suggesting buyers are regaining control.”
From a technical perspective, the $3.27 to $3.20 zone now acts as key support and must hold to sustain upward moves. On the upside, traders are watching $3.36 and $3.44 as immediate targets, followed by $3.60 on the daily timeframe.
Technical indicators from TradingView support a cautiously positive outlook. The Relative Strength Index (RSI) is at 57.18, indicating solid buying pressure with room to run. The Moving Average Convergence Divergence (MACD) shows a positive signal line and green histogram bars, confirming bullish momentum.
The asset gains a fundamental boost through the launch of CFTC-regulated futures. This development coincides with Bitcoin holding strong above $76,000, supported by institutional capital inflows.
