Despite the recent uptick, INJ has experienced a 30.98% decline year-to-date, leaving its value 50.93% below its all-time high.
On-chain analysis from IntoTheBlock reveals a mixed sentiment among holders, with 48% of INJ investors in unrealized losses, while 43% are in profit.
As per In/Out of Money Around Price (IOMAP) indicator, INJ has strong support at $25.54, with 1,420 addresses holding 940,580 INJ tokens at this level.
Source: IntoTheBlock.
If buying pressure continues to mount, INJ could target the $30 mark in the near term.
In the weekly timeframe, the recent rally to $25 was driven by $20.33 support. Looking closely, INJ is on a similar path to its November 2023 rally when it soared past $40.
However, to achieve that, INJ must overcome resistance at $33.35.
INJ/USD Weekly Chart. Source: TradingView
INJ Price Prediction: $35 On the Cards
On the daily chart, Injective’s price continues to move upward. A closer look at the chart also shows increasing volume. Should volume continue to rise alongside the price, then the uptrend might strengthen.
If validated, INJ could breach the 0.618 Fibonacci retracement level for a start. Once cleared, the next area of interest for the token could be around $30.69, where the 0.786 Fibonacci sequence lies.
In a highly bullish scenario, INJ can rise as high as $35.36. However, a change in this trend might change the thesis mentioned above.
INJ/USD Daily Chart. Source: TradingView
If the altcoin fails to rise above the 0.618 Fib level successfully, this prediction might be invalidated. In that scenario, Injective’s price might retrace to $18.68 at the 0.236 retracement point.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
