Injective (INJ) has been outperforming the broader crypto market in recent hours, gaining over 19% since Monday. This strong performance follows the altcoin's breakthrough of the $18 resistance level, signaling bullish momentum.
Investors and analysts are optimistic about INJ’s prospects, suggesting it could achieve more significant gains. However, INJ must test key supply levels and establish support within critical demand zones for sustained upward movement.
Analyst Crypto General on X has set a high price target of $53, contingent on INJ maintaining its lower trendline support. He warns that failure to hold this level could see a decline to $14. Investors are closely watching to see if INJ maintains its momentum and resistance levels.
As INJ trades at $19.38, it has surpassed the 4-hour 200 EMA at $18.41, indicating short-term market strength. Holding above this level could propel INJ toward higher price levels, with $23 as a key resistance zone. Failure to maintain support could lead to a retrace toward $16.
