Injective (INJ) is showing signs of a bullish trend reversal after breaking its previous lower-low structure, with crypto analyst Moe identifying $15 as a potential upside target. The token rebounded from an August low near $3.95 and has recovered key technical levels above $5.90, supported by a bullish MACD setup and exponential moving averages. Derivatives data shows mixed signals, with trading volume down 23.95% to $136.10 million but open interest rising 1.41% to $128.48 million. Meanwhile, Injective’s real-world-asset activity surpassed $1 billion in tokenized real estate mortgages, strengthening the broader outlook. Traders are watching whether the improving momentum can sustain the upward trajectory.
Injective (INJ) is showing signs of a potential bullish trend reversal after breaking its previous lower-low structure. Crypto analyst Moe highlighted the improving setup and suggested the token may have established a bottom following its August decline, identifying $15 as a potential upside target.
The token rebounded strongly from an August low near $3.95 and has since pushed above $5.90. According to TradingView chart analysis, Injective formed a significant low around $3.95 before strong green candlesticks drove the price through the $5.90 area and above previous swing highs.
The move resulted in a break of the lower-low structure that previously defined INJ’s bearish trend. INJ is currently positioned above its exponential moving averages, which are arranged in a bullish order.
The MACD line is trading above its signal line in positive territory, with the histogram posting green bars. This configuration indicates that bullish momentum is intact, though the price is expected to consolidate near $6.80.
Injective’s derivative statistics show trading volume down 23.95% to $136.10 million. Meanwhile, open interest increased 1.41% to $128.48 million, indicating that market participants are holding their positions despite lower activity.
Data from Injective shows that over $1 billion worth of real estate mortgages are tokenized on its platform, according to a post. This milestone highlights rising activity with tokenized financial assets and could enhance Injective’s utility in on-chain financial markets.
The $5.45 level remains an important intermediate support. Maintaining above this level will be conducive to preserving the positive market structure.
