INJ’s price is making waves. Over the past day, INJ has experienced a notable 12.42% price increase, accompanied by a 150% surge in trading volume. Currently priced at $26.0, this market behavior suggests growing market participation and potential price movement.

Since 2023, Injective has shown a consistent upward trend, establishing higher peaks and troughs. This represents a substantial recovery from the 2022 market downturn when INJ declined from $100 in 2021 to approximately $2.

Moreover, technical analysis reveals a well-defined ascending trendline connecting successive price floors, indicating a robust bullish market structure. This trendline serves as a critical support level, potentially facilitating continued upward price movement.

The INJ price chart identifies crucial support and resistance zones. The $9–$10 range has proven to be a strong support level during past corrections, with the price repeatedly bouncing from this zone. 

On the other hand, the $25–$30 range represents a critical resistance level. Historically, this level acted as support during earlier bull runs but became resistance during the bear phase.

The token’s recent surge beyond the $25 resistance level represents a critical development. A sustained price above this threshold could indicate continued upward momentum, suggesting potential for further appreciation.

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Current technical analysis presents encouraging signals. The Relative Strength Index reading of 52 indicates moderate positive momentum, with potential for additional upward movement. The price is expected to retest the $25 level, which could establish it as new support before a possible rally.

While trading volume data is not shown on the chart, the recent 150% surge in trading activity suggests strong market interest. Analysts predict that if the momentum continues, INJ’s price could target $200 in the long term, following the established bullish trajectory.

Injective’s price action and technical structure indicate the potential for further gains. The combination of strong support, a bullish trendline, and rising trading activity positions INJ as a token to watch closely. With $200 on the horizon, traders and investors are keeping a close eye on this cryptocurrency.

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The post Injective (INJ) Price Poised for a Massive Breakout—Could $200 Be Next? appeared first on CaptainAltcoin.

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