based on the materials of the site - By CFU
Injective (INJ) maintains the trend above its support line of $12.20, and the current price dynamics indicate the likelihood of growth to the upper boundary of the price range at $15.39 and a rally to the level of $20.00 in the event of a resistance level recovery.
The price holds key support at $12.20
At the time of writing, Injective is trading at $14.21, having recorded a growth of 9.06% over the last 24 hours and 9.83% over the last week. The price firmly holds the support level of $12.20, which has historically served as a springboard for bullish reversals. According to a recent update from Lennaert Snyder (@LennaertSnyder), $INJ 'perfectly matches the levels', and the price dynamics are closely related to previously identified zones. Holding this support level allows the asset to prepare for a possible rise to the next resistance at $15.39.
The level of $15.39 represents the maximum of the range, which has repeatedly limited the upward momentum since June. A successful recovery and sustained close above this level will signal the resumption of the bullish trend and may lead to a rapid movement towards $20.00.
This upper target is marked as an important technical target on Snyder's chart. Achieving this target will reliably secure INJ in the breakout zone, potentially attracting increased speculative and institutional interest.
Failure to hold the support level of $12.20 may expose the price to a deeper correction towards the range of $10.00–$9.50. This lower green zone has served as a base for accumulation, corresponding to the historical market structure.
The recovery of momentum will depend on high trading volumes during resistance recovery and a broader market alignment. If buying pressure intensifies, Injective stocks may see one of the most decisive rises in recent months.
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