Injective (INJ), known for its financial applications in the blockchain space, has seen a significant surge of 28% in the last 24 hours and a remarkable 570% increase over the past year. This growth has instilled optimism in traders and investors, anticipating further progress.

Injective's impressive performance has drawn attention, sparking discussions about its future growth prospects. The recent bullish breakout led to a 10% surge in price, reaching $35.31, contributing to a market capitalization increase by 13.32% to $3 billion, placing it at the 41st spot in market cap rankings. Additionally, the 24-hour trading volume surged by over 25.22% to $145 million.

Despite facing fluctuations with bearish and bullish trends, the current bullish momentum suggests a shift in favor of the bulls. The recent Ionic upgrade enhances web3 technology, offering enhanced access and efficiency in managing digital assets across various blockchains through Wormhole 2.0 and the IBC protocol.

Injective is at a critical juncture, with $35 resistance followed by potential milestones at $40 and $50 if breakouts occur. Conversely, support may be found at $30, potentially dropping to $25 in a bearish scenario. Technical analysis indicates a bullish trend with indicators like MACD pointing upwards and a positive reading on the Awesome Oscillator.

The RSI remains above 50 but approaches overbought levels, while the SMAs reinforce a positive long-term forecast for Injective. Remember, this article provides informative content and not financial advice.