INJ is trading at $14.07, forming a double bottom pattern just above key support at $13.27.
The chart shows a completed rounded bottom and bull flag breakout, indicating extended accumulation and attempted recovery.
Major resistance stands at $14.62; failure to break could send price toward lower supports at $12.83 and $10.05.
Injective’s native token INJ was trading at $14.07 after a 3.2% daily increase, supported by signs of technical structure formation. The chart reflects a rounded bottom formation spanning March through June 2025, followed by a bull flag breakout in July.
These developments indicate an extended accumulation phase that precedes the recent price advance. Notably, a double bottom is forming near the $14 mark, indicating a possible price retest. However, the asset remains range-bound and has not confirmed a breakout above key resistance. As of now, short-term traders are watching closely for clarity in directional momentum.
Rounded Bottom Followed by Bull Flag Breakout
From March to mid-June, the INJ/USD chart displays a rounded bottom pattern, typically found during the end of prolonged downtrends. This pattern formed as price slowly recovered from lows near $10. The rounded structure shows gradual buyer interest returning over time. Following this, in late June, the price broke out of a descending channel, referred to on the chart as a bull flag. This continuation pattern suggests an attempt by bulls to reclaim higher price levels.
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The breakout above the bull flag was followed by steady upward price movement into July. However, resistance near $16 has caused INJ to stall. The present price now stands at $14.07 just below this resistance. The 24-hour range forms a range between 13.14 and 14.62, with immediate support at the lower range price.
Key Support and Resistance Levels
Currently, INJ holds above a short-term support at $13.2. If this level holds, buyers may attempt to retest the $14.62 resistance once more. Price continues to trade within this support-resistance zone, and some near-term volatility is possible. That being said, failure to hold above $13.27 may open the floodgates for further downside pressure, with $12.83 and $10.05 as lower supports visible on the chart.
On the positive side, several upper targets are displayed, such as $19.77, $24.95, and $32.20. These price levels reflect previous structural highs, with $19.77 marking the next major level beyond current resistance. Notably, the asset has not confirmed a breakout toward these levels yet.
Double Bottom Formation Anchors Key Support Zone for Next Move
As of the latest update, the asset has developed a double bottom near $14. This pattern may suggest a continuation attempt after a pullback. However, for any upward continuation to occur, price must sustain above the current support zone.
The development of the double bottom is also consistent with the earlier breakouts of the bull flag as well as the rounded base. The price action has been constructive, but it does not confirm a sustained trend. Traders are still keeping an eye on the existing range in terms of breakouts or breakdowns, and in the short run, attention is still on the 13.27-14.62 zone.
