The price of the cryptocurrency Injective (INJ) has increased by approximately 40% over the past four weeks. Current market dynamics indicate possibilities for further growth.
Current Trend Analysis
According to ZAYK Charts, the price of Injective has been trading within a clear descending channel since mid-2024. This type of chart often reflects a controlled downtrend, where every bounce is sold off, leading prices lower. However, such patterns eventually run out of steam, which can lead to a rapid and aggressive breakout.
Resistance Level Overview
Recently, the INJ price has broken above the upper boundary of the descending channel on the daily chart. This move appears strong, as Injective may close firmly above that key resistance level for the first time in months. This breakout could signal the beginning of a larger upward move.
Future Predictions
The green target zone on ZAYK Charts suggests that the INJ price could climb toward $18, representing an impressive 82% gain from the breakout area around $10. This figure aligns with a previously existing resistance level from early 2025, giving it added technical significance.
The overall market sentiment for Injective (INJ) may be shifting, and if the price keeps above the old resistance level, this could mark the start of a much larger rally.
