Is Injective (INJ) Ready to Surge to the $10 Level? Bullish Opportunity Revealed!

Jakarta, Pintu News – Injective seems to be preparing to retest the $10 resistance after trying to confirm a key support level. Some analysts believe that this cryptocurrency may be gearing up for a significant bullish breakout and reversal.

Injective Eyes $10 Re-test

In the last month, Injective has surged about 43% from its 18-month low recorded on April 7. During last month’s recovery, the cryptocurrency rose from $6.34 to the $10 barrier, reaching a six-week peak of $10.63 before falling back.

INJ has been on a downward trend since hitting a fourth-quarter peak of $35.26, with a nearly 75% drop in the past six months. Crypto Rand analysts note that the token has been trying to break out of the downward trend but faces strong resistance in the $9.5-$10 range.

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INJ Ready for Breakout?

After its latest surge, Injective was rejected from this range, with some market watchers suggesting that it could retest the $9-$9.20 level as support before its next breakout attempt.

During the weekend drawdown, INJ price has touched this level, trading between $9.00-$9.40 and briefly dropping to $8.90 before bouncing. After a 4.8% drop, the cryptocurrency is trying to confirm this level as support, which could help Injective gain strength for another push above the key zone and towards $11-$12 resistance.

Bullish Reversal Pattern Seen

Meanwhile, analyst Sjuul of AltCryptoGems highlighted a large inverted Head and Shoulders pattern on INJ’s chart, noting that investors should pay attention because “this is one of the strongest reversal patterns.” This formation is a bullish reversal chart that indicates a potential shift from a downtrend to an uptrend.

According to the chart, the cryptocurrency has been forming this setup for the past two months, with the neckline hovering around the $10.30 resistance level. A breakout from the neckline could trigger a significant surge towards the $14 mark.

Conclusion

This analysis shows that Injective (INJ) has significant potential to rebound and reach higher price levels in the near future. With strong technical support and chart patterns indicating a reversal, INJ may be an attractive asset for investors seeking opportunities in the volatile cryptocurrency market.

Also Read: Bitcoin Poised for a Big Spike Amid US Economic Chaos?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Injective (INJ) Gearing Up For $10 Level Retest, Is A Bullish Reversal Ahead? Accessed on May 7, 2025
• Featured Image: Coin Republic