Injective (INJ) has recently experienced a breakout, gaining over 25% in just seven days and positioning itself at a critical level in the market. As strong altcoins like Injective become more important to watch in a volatile and uncertain market, analysts and investors are closely monitoring its resilience and potential for further gains.
Experts believe that if Injective can maintain its current level, it may be on the verge of a breakout towards even higher prices, making it a standout performer in the crypto market. This presents significant opportunities for those who closely monitor its price action.
After the breakout, Injective has retraced to the previous resistance at $20.30, which is now being tested as support—a classic signal for bullish continuation. Traders and analysts are closely watching this retracement as it could pave the way for the next leg up in INJ’s price.
Crypto analyst Long Term shared a detailed analysis highlighting this retest as a key moment for Injective. According to the analysis, this healthy retrace sets the stage for a potential breakout, provided that the $20.30 level holds strong support.
Analysts are optimistic about INJ’s prospects if this support level is confirmed, with price targets around $25 being floated for the coming weeks. The ongoing consolidation and testing of support are crucial steps in building momentum for Injective’s next upward move.
As the broader market continues to exhibit volatility, INJ’s ability to maintain its key levels will be instrumental in determining its near-term trajectory. Investors are advised to watch for confirmation of this support level as it could signal the start of another rally for Injective, making it one of the altcoins to keep an eye on in the crypto space.
Injective has shown impressive strength by successfully breaking above and tagging the 4-hour 200 exponential moving average (EMA) from the upside, currently at $20.22. This key indicator is a crucial signal of INJ’s bullish momentum. For the uptrend to continue, INJ must maintain its price above $19.5 and secure a close over the 4H 200 EMA.
If these conditions are met, INJ’s next target will be the recent highs set last weekend at $22.98. Breaking above this level could pave the way for a challenge to the $25 supply zone, representing a significant resistance level. While some sideways consolidation might occur first, holding above the 4H 200 EMA and the $19.5 support level will be key for INJ to reach these higher price targets.
The upcoming price action around these levels will be critical in determining INJ’s next move as it navigates through the volatile crypto market. With its potential for further gains and breakout opportunities, Injective remains a coin to watch closely in the coming weeks.
