Injective Protocol is in a consolidation phase, holding above the support line of an ascending triangle, which may herald a potential breakout.
Ascending Triangle Structure and Bullish Divergence
Injective Protocol is holding above the support line of an ascending triangle on the daily chart. This consolidation period is attracting attention, as technical and market signals indicate a possible breakout could emerge in the short term.
Each retest of the ascending support has brought stronger buying interest. The RSI is showing bullish divergence, increasing the likelihood of upside breakouts.
Current Market Position and Price Action
As of writing, Injective (INJ) is trading around $12.53 after a 2.28% daily decline. Direct resistance stands at about $12.80-$13.00. Prices on the negative side have already probed the $12.30 and $12.40 support lines multiple times. Market participants are closely monitoring price behavior at these levels.
Market Capitalization and Trading Activity
From a fundamental perspective, Injective carries a market capitalization of $1.25B. This near-complete distribution minimizes dilution risks, contributing to the token’s long-term stability. However, 24-hour trading volume has declined by 10.27% to $83.31M.
Overall, Injective Protocol demonstrates structural strength despite the current consolidation. Market participants are awaiting direction dependent on testing key resistance and support levels.
