Market Bullish - Coinfutura

  • INJ is forming a bullish triple bottom inside a year-long descending wedge near $10.27 support.

  • A breakout above the $12.06 resistance could end the prolonged downtrend if confirmed.

  • Price compression and volume stability signal a potential volatility shift as the wedge nears its apex.

Injective (INJ) is approaching a critical technical juncture as its price structure continues to tighten in the shape of a declining wedge. Existing price action shows the formation of a triple bottom, a reversal indicator of a bullish nature, with possible upside movement. On July 8, 2025, INJ was tradinglevel at $10.32, a 2.2% decrease in the last 24 hours.

Notably, this level sits just above a support zone at $10.27, with resistance positioned at $10.68. Market activity indicates a buildup near the wedge’s apex, pointing to an imminent breakout attempt. The pattern has formed after a prolonged downtrend stretching over a year.

Triple Bottom Structure Forms Inside Descending Wedge

The chart reveals three distinct low points, all forming near the $8–$9 range, which supports the triple bottom structure. These lows appear inside a well-defined descending wedge pattern. This wedge has been in place since INJ’s peak near $45 in late 2023. 

https://twitter.com/CryptoBusy/status/1942456258205999116

Since then, price action has steadily declined while respecting both downward-sloping trendlines. The price has now tightened between converging lines, and with the third bottom recently established, traders are closely watching for a breakout above resistance.

Notably, the $12.06 level is seen as a horizontal barrier, previously rejected multiple times. If the price breaks this level, it would also breach the upper wedge boundary, indicating a shift in trend. While no breakout has occurred yet, the compression of price within the pattern leaves little room before a decisive move.

Price Holds Key Support With Volume Compressing

At present, INJ maintains price action above its short-term support of $10.27. The recent rebound from this level reinforces its role as a pivotal price floor. Over the last 24 hours, INJ has posted moderate gains against both BTC and ETH pairs, with an increase of 1.7% and 1.9%, respectively. This suggests consistent inflows amid a low-volatility environment.

Volume has remained relatively stable despite narrowing price action. Such conditions often precede strong breakouts. Moreover, historical price behavior in similar wedge structures has led to sharp volatility expansions once the apex is reached.

Historical Context Aligns With Current Pattern Setup

The chart also highlights two significant pivot points from mid-2023, marked by yellow arrows. These early accumulation zones preceded INJ’s major breakout later that year. Comparatively, the current triple bottom sits within a similar structural build-up, although no direct pattern correlation can be drawn.

In the event that the resistance formerly at $12.06 were to be reclaimed, it would push INJ back into a greater trading range than when it was witnessed earlier in early 2025. Yet the existing wedge is still there and the price will need to break and support above its upper trendline to technically confirm the break. The pattern is still underway, its resolution as yet.

The post Injective Holds Support Near $10.27 While Descending Wedge Narrows appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.