Statistics show that Injective (INJ) has broken above a key descending trendline, indicating a potential trend reversal. Changes in trading volume also point to active buyer participation.
Breakout from Key Level
The INJ token has broken above a significant descending trendline, indicating a shift in market sentiment. The breakout occurred around $11.50, where active buyers began to push the price higher.
Chart Structure and Future Potential
The chart structure indicates potential for further gains, with resistance around $15.48. This level is psychologically significant and confirmed by prior price action. Traders note that the current price formation supports continued bullish momentum.
Short-Term Volatility and Trader Activity
On intraday charts, INJ reached a session high near $14.80. Active trading is noted with strong selling pressure; however, recent volume changes indicate increasing buyer interest.
Interest in Injective (INJ) is significantly increasing following the breakout from key levels and the potential reversal of the trend. Traders are watching for further price changes amid rising volume pressure.
