Injective Defies Gravity at $4.41: Is the Rocket to $29 Fueling Up?

Injective holds the line—bulls dig in at a critical support level, setting the stage for a potential moonshot.

The Floor is Lava

That $4.41 mark isn't just a number on a chart. It's the battleground where sell orders meet diamond hands, where panic meets conviction. Holding here isn't luck; it's a signal that the underlying narrative—a decentralized exchange protocol built for finance—still has believers willing to back it with capital.

The Path to Reclaiming Glory

The road to $29 is paved with more than hope. It requires a sustained surge in protocol activity, a wave of fresh capital rotating into altcoins, and a market-wide risk-on sentiment that makes traditional finance's 2% annual returns look like a bad joke. Each resistance level between here and there acts as a test, a filter separating weak momentum from genuine bullish strength.

Catalysts Over Chatter

Forget the hype. Watch the metrics: total value locked, derivatives trading volume, and developer activity on the chain. These are the engines that could propel the price. A breakout above key moving averages would turn whispers of a rebound into a shout heard across crypto Twitter.

The gamble is clear. Hold support, and the upside is a story of triumphant recovery. Lose it, and it's another cautionary tale in an asset class that eats over-leveraged dreams for breakfast. The chart is set. Now we see if the buyers have the nerve to follow through.

INJ Price Holds Within Long-Term Descending Channel

However, there is still a continuation of the downward channel for the INJ. The token maintains a bearish macro outlook as it reaches both the upper level of the resistance and the lower level of the support. Nonetheless, the price is currently approaching the lower boundary of the channel, around the price of $4.2-$4.8.

If this trend of support remains in place, there is a chance for a recovery in the price levels of the token. The first resistance point will be around the middle of the channel at the price points of $8.5 to $10. The price levels have made a regular trend at these points.

In an even stronger bullish continuation scenario, the token might move towards the upper boundary of the channel, testing $14, $17, and ultimately the $24 to $29 area. But a strong break below the current levels of support will RENDER the bullish scenario impossible and will usher in the possibility of lower levels.

Indicators Signal Pressure With Cautious Stability

The current level of the RSI stands at around 36-37, which is below the 50 level. This is an indication of a lack of strength for the bulls, showing that the sellers are still in control of the market. However, it is not yet at the oversold level, so there is always a possibility for further decline to occur.

The MACD is making a slight move towards recovery, as the blue MACD line is attempting to get closer to the signal line, and the histogram is also trending towards the light green color. This indicates that the bearish momentum is decreasing, but a bull crossover has not yet been achieved.