INJ trades above support in an ascending triangle pattern, with resistance at $15.70 and bullish divergence on daily charts.
Weekly structure shows a falling wedge forming since early 2024, with a bounce from $10.13 suggesting a potential mid-term breakout setup.
Pineapple Financial confirmed holding a $100 million INJ treasury, reinforcing confidence in Injective’s long-term bullish structure and stability.
Injective Protocol (INJ) is holding near a key support area, showing signs of a bullish setup forming across different timeframes. While prices have pulled back recently, chart patterns suggest building pressure that could lead to a strong move.
Daily Chart Shows Ascending Triangle with Bullish Momentum
JohncyCrypto pointed out an ascending triangle forming on the INJ daily chart.This bullish pattern features rising support and steady resistance near $15.70. The price is hovering close to the triangle base at $12.54, holding just above the 50-day moving average.
RSI sits at a neutral 50, allowing room for upward movement. Volume data shows a low-volume area above the current resistance, hinting that a breakout could drive a fast move toward the $26–28 range. The current setup reflects consolidation, which often leads to a sharp directional shift.
If support breaks down, a drop to the $7.00 range could follow. For now, the chart signals possible upward continuation—if the price breaks and holds above resistance.
Short-Term Weakness on 4H Chart Warrants Caution
On the 4-hour chart, INJ is consolidating near short-term support at $12.54. The MACD has turned bearish, with the signal line above the MACD line and red bars appearing on the histogram. RSI is around 39.07, nearing oversold territory.
Volume remains steady, showing no strong bias. The weak selling pressure suggests that bears haven’t fully taken control. Traders are watching for an MACD bullish crossover and an RSI bounce to confirm the next move higher. If support at $12.00 fails, the short-term bullish view may be invalidated.
Weekly Structure Hints at a Potential Mid-Term Rally
INJ is currently trading inside a descending channel that’s been in place since early 2024. It’s now bouncing near the lower boundary of that channel, around $10.13. This wedge-shaped pattern is often seen before a trend reversal.
The MACD indicator is flattening out after extended downside momentum. If price breaks the upper resistance line, it could open the door to $35.11 and $40.68 targets. The chart also shows a W-shaped recovery, often linked with accumulation phases. Meanwhile, Pineapple Financial confirmed a $100 million INJ treasury, which supports this developing bullish case.
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Injective (INJ) Price Holds Strong Above $12.50 Support, Eyes a Breakout
INJ trades above support in an ascending triangle pattern, with resistance at $15.70 and bullish divergence on daily charts.
Weekly structure shows a falling wedge forming since early 2024, with a bounce from $10.13 suggesting a potential mid-term breakout setup.
Pineapple Financial confirmed holding a $100 million INJ treasury, reinforcing confidence in Injective’s long-term bullish structure and stability.
Injective Protocol (INJ) is holding near a key support area, showing signs of a bullish setup forming across different timeframes. While prices have pulled back recently, chart patterns suggest building pressure that could lead to a strong move.
Daily Chart Shows Ascending Triangle with Bullish Momentum
JohncyCrypto pointed out an ascending triangle forming on the INJ daily chart.This bullish pattern features rising support and steady resistance near $15.70. The price is hovering close to the triangle base at $12.54, holding just above the 50-day moving average.
RSI sits at a neutral 50, allowing room for upward movement. Volume data shows a low-volume area above the current resistance, hinting that a breakout could drive a fast move toward the $26–28 range. The current setup reflects consolidation, which often leads to a sharp directional shift.
If support breaks down, a drop to the $7.00 range could follow. For now, the chart signals possible upward continuation—if the price breaks and holds above resistance.
Short-Term Weakness on 4H Chart Warrants Caution
On the 4-hour chart, INJ is consolidating near short-term support at $12.54. The MACD has turned bearish, with the signal line above the MACD line and red bars appearing on the histogram. RSI is around 39.07, nearing oversold territory.
Volume remains steady, showing no strong bias. The weak selling pressure suggests that bears haven’t fully taken control. Traders are watching for an MACD bullish crossover and an RSI bounce to confirm the next move higher. If support at $12.00 fails, the short-term bullish view may be invalidated.
Weekly Structure Hints at a Potential Mid-Term Rally
INJ is currently trading inside a descending channel that’s been in place since early 2024. It’s now bouncing near the lower boundary of that channel, around $10.13. This wedge-shaped pattern is often seen before a trend reversal.
The MACD indicator is flattening out after extended downside momentum. If price breaks the upper resistance line, it could open the door to $35.11 and $40.68 targets. The chart also shows a W-shaped recovery, often linked with accumulation phases. Meanwhile, Pineapple Financial confirmed a $100 million INJ treasury, which supports this developing bullish case.
The post Injective (INJ) Price Holds Strong Above $12.50 Support, Eyes a Breakout appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.