Key Insights
- INJ is trading near $12.30, a major support level that could determine its next move.
- Analysts expect possible upside targets between $16.50 and $19.75 if resistance levels break.
- Weak technical strength is one of the red flags for a drop toward $10 if buyers fail to step in.
Injective (INJ) is under pressure as traders continue to watch the $12.30 support level. This price has repeatedly acted as a turning point, and its defence may decide whether INJ heads for a rebound or slips lower.
INJ Technical Outlook: Key Levels to Watch
INJ is currently trading around $12.69 after a small daily decline, according to CoinMarketCap data. Price action is currently choppy, and the cryptocurrency has short-term resistance near $14 alongside deeper support levels closer to $11.90.
The question is whether INJ can hold a firm above $12.30 to set up a recovery, or if weakness will send it toward $10.
According to the charts, the $12.30 zone stands out as psychological and technical support. Buyers have defended this area multiple times, and analysts agree that a successful hold here could renew interest in the asset.
If this level stabilises, short-term targets include $14.10 and $16.50, which sit near previous resistance clusters.
This said, a move above $14.10 would be significant. It would show buyers have regained control and could trigger another push toward $20 in the next few months. However, a breakdown below $12.30 could put the asset at risk of heavier selling, especially with downside targets at $11.30 and even $10 if sentiment worsens.
Indicators Send Mixed Signals
Several popular technical indicators are now showing mixed readings. For example, the RSI is near neutral at 44–46, while the MACD continues to show bearish readings.
When it comes to the Bollinger Bands, INJ currently trades near the lower band, which is reinforcing the idea that a bounce could be incoming.
Volume data shows relatively stable liquidity, with about $12.9 million daily activity. This provides enough trading depth for a price burst if either bulls or bears take control.
According to renowned analyst Ali Martinez in a recent update, the bears might be looking for a chance to control the market.
The analyst noted that the cryptocurrency is trading in an ascending triangle. A break below will likely result in a price crash towards $8.
According to the charts, INJ escaping this fate depends on its ability to break above $15.54. This aligns with the upper Bollinger Band. A break above this zone could confirm a trend reversal and open the path toward higher ranges.
Considering this, a break of the $11.91 strong support could speed up the losses. This could lead to the $8 zone being the next demand level.
Strategies for Traders and Investors
Medium-term investors could find the $12.30 to be an attractive entry if combined with tight risk controls. A stop loss order above this zone can limit downside exposure while keeping the upside open. A close above $14.10 with substantial volume would strengthen the bullish case.
Short-term traders may also find opportunities in the $12.30 to $14.10 range. All of the above, of course, depends on the bullish defence. A strong defense could pave the way toward $17.40 and even $19.75 if resistance levels break.
On the other hand, weakness below $11.91 risks dragging INJ back toward $10. Investors should monitor for a daily close below the $12 mark. Such a move could confirm the start of a deeper downtrend.
Ivan Petrov is a seasoned journalist with deep insights into Russia’s dynamic crypto landscape. His work focuses on market dynamics and the transformative potential of blockchain technology, making him a go-to expert for understanding Russia’s digital financial innovations.
