Injective Eyes Breakout Above $17 After Year-Long Resistance
Injective (INJ) is approaching a pivotal $16–$17 resistance zone that has capped its rally for over a year. The token has repeatedly tested a multi-month descending trendline, with each rejection showing diminishing selling pressure. Rising trading volume indicates growing buying momentum, supporting a potential breakout above this ceiling. Analysts suggest clearing $17 could unlock a swift move toward $20 as pent-up supply dissipates and resistance flips into support. Injective’s robust fundamentals—over 129,000 monthly active users and ongoing DeFi development—align with its technical setup, reinforcing bullish sentiment. A sustained break could trigger significant upside in both short-term rallies and longer-term growth. Traders will watch volume confirmations closely to avoid false breakouts and assess whether INJ can maintain momentum above the trendline.
Bullish
Injective’s prolonged battle under a descending trendline, coupled with rising volume and waning sell pressure, resembles high-probability breakout setups seen in cryptocurrencies like Ethereum in 2020. The technical alignment—multiple softening rejections at $17—and accumulating on-chain activity (129,000+ monthly users) create a clear bullish bias. In the short term, a confirmed break above $17 could trigger a rapid push towards $20 as traders chase momentum. Long term, flipping the old resistance into new support may sustain an extended uptrend, boosting DeFi adoption and protocol development. Traders will rely on volume confirmation to avoid a bear trap. Taken together, these factors point to a bullish market impact, with potential for both swift rallies and durable growth.