Injective (INJ) broke out of a long-term descending wedge near $10.40, signaling a shift in market direction.
RSI at 58.27 and a bullish MACD crossover confirm growing momentum without overbought conditions.
$124.94M in 24h volume, up 4.69%, aligns with bullish continuation as buyers show increasing interest.
The price of Injective (INJ) has seen renewed buying interest, rising 4.08% over the last 24 hours to $12.90, supported by stronger trading volumes and clear technical signs of momentum. As of June 4, 2025, 11:15 AM UTC, INJ recorded a 24-hour trading volume of $124.94 million. Its market cap now stands at $1.29 billion, with 101,740 holders recorded.
Analysts are observing signals pointing to a breakout continuation, especially after the token exited a descending channel formation that had confined price action since early 2025.
INJ Breaks Out of Falling Wedge, Eyes $14.40 Resistance
Price action over the last five months confirms that INJ had been trapped within a falling wedge pattern. On the daily timeframe, the asset successfully broke above this descending channel late in May, signaling a trend reversal. The breakout occurred near the $10.40 zone and has since gained strength, with the price pushing towards $13. The upward move represents a gain of over 24% from the breakout level, with visible momentum confirmation across indicators.
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This chart pattern typically signals a potential shift from bearish to bullish sentiment. Price has now retested the breakout level and is attempting a continuation move. If this momentum holds, the next resistance to watch is around $14.40, which lies near a previous swing high from February.
Technical Indicators Support Ongoing Momentum
The one-hour RSI (Relative Strength Index) currently reads 56.36, showing moderate strength while staying below overbought conditions. It has remained within the 40–70 band, signaling a balanced yet bullish environment. Meanwhile, the MACD indicator shows a clear bullish crossover.
The blue MACD line stands at 0.106, slightly above the signal line at 0.121, while the histogram has returned to green, indicating growing upside pressure.
These indicators suggest momentum is building gradually without extreme overbought signals. Traders are likely to monitor RSI movement near 60 for potential acceleration.
Volume Expansion Aligns With Market Sentiment
Volume figures back the price action, with a notable 24-hour surge of $120.17 million—a 4.69% increase. The volume-to-market cap ratio is 9.26%, reflecting heightened trading activity relative to its valuation.
With both price and volume increasing in tandem, bullish continuation appears structurally supported. Any sustained move above $13 would confirm stronger buyer control. However, $12.20 remains a key short-term support, where price previously rebounded following minor pullbacks.
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