Injective Price Prediction for Today, July 1 INJ Technical Analysis

The Injective price prediction shows that INJ is likely to cross above the 21-day moving average where it can start the bullish movement. Price of [...]

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Injective Market-Shaking News Drives INJ Price Up By 7% Details

Injective, a Layer 1 (L1) protocol, emerged as one of the standout performers in the crypto market on Thursday, with its native token INJ experiencing a substantial 7% surge within the past 24 hours.  Accompanying this surge, the protocols market capitalization is inching closer to the significant milestone of $3 billion. The price movement coincides [...]

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Injective Price Prediction for Today, May 6 INJ Technical Analysis

Injective price prediction sees a 5.25% price increase over the past 24 hours of trading as the cryptocurrency touches $26.2. Injective Price Prediction: INJ emerges [...]

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Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst

INJ, the native token of the Injective Network, commenced May with a fluctuating price action marked by a series of significant losses and gains. As INJ attempts to establish a stable price trajectory, popular market analyst with X handle Crypto Tony has highlighted a pivotal support zone for the altcoin in the coming weeks.  Related Reading: Buckle Up, Injective (INJ) Primed For Takeoff Towards $50 Analyst INJ Must Not Fall Below $19.30 Level, Analyst Warns In an X post on Friday, Crypto Tony shared a vital insight on the INJ market which could create a sentiment of caution among many traders. The renowned analyst stated that INJ must maintain a market price above the $19.30 price zone, warning that a dip below this support level could spell danger for investors. While Crypto Tony did not say the extent of this danger, the possible loss seems to be likely massive as his statements implied the INJ bull traders could struggle to re-establish market control should the tokens price fall below the specified threshold. Furthermore, the analyst stated that early investors of INJ including himself would be immune to this potential downside. However, he still plans to pull out of the Injective market should the token lose its $19.30 support zone. Currently, INJ trades around $24.70 reflecting a gain of 4.68% in the last day after a period of intense market volatility. The altcoin appears to be gathering momentum for a bullish trend following negative performances in recent weeks resulting in a decline of 24.07% in the last 30 days.  Related Reading: XRP Forms On-Chain Signal That Led To 16% Crash Last Time What’s Next For Injective?  With respect to a highly anticipated crypto bull run, INJ, which gained by over 3,000% in 2023, has been marked by several analysts as one potentially favorable altcoin for investment in the coming weeks. Interestingly, these sentiments have been bolstered in recent weeks by a series of positive developments on the Injective network. For instance, Injective recorded 2.4 million transactions in a single day marking a new milestone in daily transactions for the Layer 1 network.  In particular, the Injective 3.0 network upgrade has also been recently approved which is expected to tackle the inflationary problems of the INJ by decreasing the tokens minimum and maximum creation rate by 25% and 30%, respectively over the next two years on a uniform quarterly basis.  Through these deflationary measures, it is expected that INJ would experience an increased scarcity which could, in turn, drive up the altcoins market value, thus contributing to a positive performance in the expected crypto bull run. However, investors are reminded that all cryptocurrencies are subject to varying levels of market volatility and are admonished to trade with all necessary caution. INJ trading at $24.66 on the daily chart | Source: INJUSDT chart on Tradingview.com Featured image from iStockphoto, chart from Tradingview

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Injective (INJ) Buy Signal That Led To 700% & 555% Rallies Forms Again

An analyst has pointed out that Injective is forming a buy signal that previously led to 700% and 555% rallies for the assets price. Injective Is Forming A TD Sequential Buy Signal On Its Weekly Chart In a new post on X, analyst Ali Martinez has discussed a Tom Demark (TD) Sequential signal that has [...]

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Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?

Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is voting on a proposal to significantly reshape the platforms tokenomics and introduce a new era dubbed Injective 3.0. According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and [...]

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INJ Price Soars 13% As Injective Unveils inEVM, Ethereum And Solana Integration Expected

In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability. By integrating with Ethereum (ETH), [...]

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Injective Launches Important Token Tool As INJ Bleeds

Injective Protocol, a decentralized finance-centric platform, has launched TokenStation. In a blog post on March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would empower anyone to create their tokens in a low-fee and scalable environment. Injective Launches TokenStation, Strikes Key Partnership The tool was developed by the Injective community and aims to “remove barrier to entry for token creation.” Like the token creation tools on Solana and Ethereum, for example, using TokenStation, part of the blog post won’t require coding experience.  Related Reading: Top Reasons Why The Bitcoin Price Crashed Below $63,000 This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool allows token management and integration of tokenomics mechanisms like burning. The blockchain is launching the TokenStation days after partnering with AltLayer, a platform backed by Binance Labs dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications. The recently launched inEVM allows developers to seamlessly build applications leveraging the high scalability and near-zero fees on Injective. Additionally, the inEVM is set to increase composability between WebAssembly (WASM) and EVM environments. Through this unique feature, Injective can bridge the interoperability of Cosmos, the developer activity of Ethereum, and the high scalability of Solana.  Will Volan Help Prop Up INJ Prices? In January, Injective Protocol activated the Volan Upgrade, setting the platform’s plans to build a robust real-world tokenization infrastructure into motion. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens.  Additionally, Volan modified INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols, including BNB and Ethereum. Related Reading: Shiba Inu Ecosystem Blooms: BONE Jumps 44% With $3 Target In Sight While the upgrade and subsequent partnerships have lifted its prominence in decentralized finance (DeFi), growth has been slower than expected.  So far, DeFiLlama data shows that Injective Protocol commands a total value locked (TVL) of less than $65 million. This is miles behind Solana or Ethereum, two of the world’s most active smart contract platforms where active DeFi protocols also thrive. Meanwhile, INJ prices, although relatively higher, are under pressure, as seen in the candlestick arrangement in the daily chart. INJ is down 30% from 2024 highs, slipping and following Bitcoin. However, the coin is within a broader consolidation. Resistance and support levels are around $44 and $30, respectively. Feature image from Canva, chart from TradingView

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Bullish Run for Injective (INJ): Will the Momentum Continue?

The Injective (INJ) price has experienced an uptrend, resulting in price increases since yesterday, May 28. This trend indicates a positive sentiment among investors, with more buyers entering the market and increasing prices. Meanwhile, the uncertainty around the price of the general crypto market has caused speculations about whether this momentum will continue. Assessing The Potential [...]

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Injective (INJ) Continues To Build Momentum, Jumps Nearly 27% In A Single Week

Injective (INJ) has been positive in 2023, racking up a nearly 500% price increase since the turn of the year. This significant rise ranks the cryptocurrency as one of the year’s best-performing assets. Over the past week, the INJ token has been on an upward trend, adding more than 26% to its value. Related Reading: Cardano (ADA) Soars 10% In The Last Week, More Rallies Ahead? Injective Price Records Daily 8% Gain – Price Action INJ, the native token of the Injective ecosystem, has maintained its recent bullish momentum, registering an 8.3% increase in the last 24 hours. As of this writing, the token is valued at $7.53, according to data from CoinGecko. However, a broader look at the market reveals that the Injective price has been range-bound for the past few weeks. Since reaching a yearly peak of $9.32, the INJ price has moved mostly sideways, albeit 19.2% from its 2023 high. With the choppy market condition, it is quite difficult to determine which overall trend is forming. The on-chain indicators seem quite indecisive at the moment. The token rebounds at the $6 price point, acting as a support zone.  INJUSD trading at $7.513 | Source: INJUSD chart from TradingView The INJ token boasts a market capitalization of nearly $600 million, ranking it the 73rd biggest cryptocurrency. Additionally, the coin has a 24-hour trading volume of roughly $75 million, representing an increase of 131.2% in the past day. According to the price prediction site CoinCodex, the general sentiment surrounding INJ is currently bullish. The team expects this token to maintain its bullish run and gain a further 13.08% in the next five days to trade at $8.59.  In addition, CoinCodex makes a bold prediction of INJ reaching a market price of $16.72 in the next 30 days, indicating a plausible 126.25% price on the token’s current price.  Injective Protocol Continues To Make Positive Waves The decentralized Injective protocol has been on an ascent since the start of 2023, evolving in innovation and adoption. These developments have been crucial to the positive sentiment surrounding its token (INJ), contributing to its price growth and the enhanced activity on the Injective blockchain. On June 23, Injective announced that it had reached its network’s 240 million transaction mark. This is perhaps the most significant evidence of the decentralized blockchain’s growing popularity. Another of Injective’s recent developments is the Open Liquidity Program (OLP), which launched on the 13th of June. This program allows Injective users to provide liquidity on the protocol’s on-chain orderbook infrastructure while earning INJ rewards. Eligible participants can earn 60,000 INJ tokens within 28 days.  Related Reading: Lightning Network Hits Record Highs In Bitcoin And US Dollar Capacity Featured image from Shutterstock, chart from TradingView

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Injective (INJ) Infuses Adrenaline With Double-digit Gain, Is $2.5 Feasible?

Injective Protocol (INJ) has had a tough time seeing its price shed over 90% from its all-time high of $24.8 against tether (USDT). Despite recently seeing a huge pullback in the crypto market, Injective Protocol (INJ) continues to show immense strength, racking up double-digit gains. (Data from Binance) Related Reading: NEAR Bulls Charge Their Way Past $4.7 Amid Lack Of Spike In Volume Injective Protocol (INJ) Price Analysis On The Weekly Chart  INJ saw a decline in its price from $24.8 to around $0.9, with an over 90% drop from its all-time high despite having good fundamentals. The price of INJ bounced off after touching a weekly low of $0.9, and the price rallied to $1.7, showing some great strength. The price of INJ on the weekly chart needs to build more volume as the price is faced with resistance at $1.9, unable to trend higher. INJ’s price needs to break out with good volume for the price to have a good chance of trading higher above $1.9 and possibly to a region of $2.5.  INJ must break and hold above the resistance at $1.9 to form a support for the price of INJ to have a chance to trend higher. If the price of INJ fails to break this resistance region, we could see the price retesting the lower weekly region of $1, acting as a good buy zone to push the price of INJ higher and to hold the sell-off.   Weekly resistance for the price of INJ – $1.9. Weekly support for the price of INJ – $1. Price Analysis Of INJ On The Daily (1D) Chart The daily timeframe for INJ prices looks choppy as prices continue to range with little volume to break out of this range. The price of INJ needs to break out of this range with good volume for the price to trend to $2.5. A break and close above the range channel prevents the price of INJ would be flipped into support and would be good for INJ price to rally to a region of $2.5. On the daily timeframe, the price of INJ is currently trading at $1.6, holding above the 50 Exponential Moving Average (EMA), acting as support for INJ price.  The Relative Strength Index (RSI) for INJ is at 50 on the daily chart, indicating low buy order volume.  Daily resistance for the INJ price – $1.9-$2.5. Daily support for the INJ price – $1. Onchain Analysis Of INJ Despite still being backed by many investors and partnerships, INJ has seen a tremendous drop across all boards, including price, volume, market circulation, and market dominance, due to the bearish sentiments across the crypto market. Related Reading: Ravencoin (RVN) Records 90% Increase, Community Warns About Price Speculation Featured Image From zipmex, Charts From Tradingview and Messari

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These Are The Altcoins Drawing Whale Interest, Santiment Reveals

The on-chain analytics firm Santiment has revealed some altcoins currently witnessing high interest from the whales. Whale Transactions Have Spiked For These Altcoins Recently In a new post on X, Santiment has discussed how several altcoins have been showing interest from the whales. The on-chain indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total number of transfers carrying a value of at least $100,000 taking place every day on the blockchain for any given cryptocurrency. Such large transfers are generally assumed to be coming from the whale entities, as they can only move around amounts this large with single transactions. Related Reading: Litecoin Whale Deposits Big To Binance, LTCs 3% Drop To Extend? When the metric’s value is high, the whales make many transfers. This trend implies that these humongous investors are highly interested in trading around the asset in question. On the other hand, the low indicator suggests the whales may not be paying attention to the cryptocurrency as they aren’t making that many moves on the network. Now, here is the chart shared by the analytics firm that shows the trend in the Whale Transaction Count for some altcoins over the past month: The value of the metric appears to have been quite high in recent days | Source: Santiment on X As displayed in the above graph, these five altcoins have all seen some boost in their Whale Transaction Counts recently: Injective (INJ), Rocket Pool (RPL), PlayDapp (PLA), STP (STPT), and Basic Attention Token (BAT). Given this close surge in the indicator for all of these assets, it would appear possible that the whales have now started playing around with alts after gaining confidence from the sharp rally that Bitcoin has enjoyed. Now, what does this fresh whale interest mean for these altcoins? Usually, a high value of the Whale Transaction count is a predictor of volatility for any cryptocurrency. This is because the whales’ transfers carry a significant value. Of course, any single transaction will likely not be big enough to move the market appreciably on its own, but if many such transfers occur at once, the asset could feel some turbulence. Related Reading: Extreme Greed Is Back For Bitcoin, Is It Time To Sell? However, any such volatility that may arise out of this high whale trading activity can theoretically go in either direction. The Whale Transaction Count only measures the pure number of large transfers happening on the network and doesn’t provide any information about whether these are buying or selling moves. As such, the only thing that can be said about these altcoins observing high interest from these humongous holders is that they are now more likely to display some volatility, the direction of which is uncertain. INJ Price The 31st-placed coin in the market cap list, Injective, is trading around $35 after going up more than 4% in the past week. Looks like the price of the asset has been consolidating recently | Source: INJUSD on TradingView Featured image from Vivek Kumar on Unsplash.com, Santiment.net, chart from TradingView.com

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Injective Generated More Revenue Than BNB Chain, Avalanche In Q3 2024, Next $50?

Injective Protocol, a DeFi-centric platform using Cosmos tech, is gaining traction, looking at the gas fee revenue distributed to its validators in Q3 2024. While INJ, the native currency of the protocol, is under pressure, cooling off after rallying to as high as $52 early this year, the recent development is a huge confidence boost. [...]

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Injective Integrates Fetch.ai And ASI: Why Is INJ Down?

Injective, the DeFi-centric protocol, has recently made major moves. Besides boasting of high throughput and low fees while protecting traders from maximal extractive value (MEV) bots, the platform has been striking key partnerships. Injective Integrates With Fetch.ai And ASI This week, the proposal by Fetch.ai and the Artificial Superintelligence Alliance (ASI) community to integrate Injective was passed synonymously. The proposal passed with 100% of the votes agreeing with the move. Related Reading: Bitcoin Price Forecast: Analyst Says Expect 98% Crash After Blow Off To $250,000, Heres Why Looking at voting data, over 324 million FET voted to endorse the idea, with only 656 FET rejecting it. No one voted to abstain or veto. Voting started on October 23 and ended five days later on October 28. According to the proposal, the goal is to revive the expired IBC client for Injective under “Revive expired IBC client for Injective.” In this way, Fetch.ai, now part of the ASI Alliance, can harness the power of AI within the sprawling Injective DeFi ecosystem. This arrangement will allow Fech.ai, an AI-centric platform, to directly plug its machine learning and AI capabilities into the Injective platform. Out of this, users will benefit from streamlined and leveraged AI-enabled tools when trading. The team also said they would benefit from improved liquidity management and asset allocation. Even with this deal, Injective and ASI will continue operating independently. The integration isn’t a merger but an Injective tapping into ASI’s AI capabilities. Why Is INJ Down? Bullish as this may be, INJ prices ticked lower, looking at the events in the daily chart. Injective bulls have yet to reverse losses posted on October 25 comprehensively. Accordingly, despite the series of higher highs over the weekend and in the first half of the week, sellers are in control. So far, INJ is down 20% from October highs and continues consolidating inside a $10 zone. Clear resistance is around $25, while support is at $15. If the bulls of Q1 2024 flow back, momentum will likely pick up once buyers break above the $25 level, preferably with increasing engagement. Related Reading: Bitcoin Consolidates Near ATH Volume Suggests A Big Move Ahead Besides improving crypto sentiment and rising total value locked (TVL) across DeFi, INJ could benefit from Injective’s core feature. The protocol has the highest revenue-to-fully diluted valuation (FDV) ratio, even better than Ethereum. The high metric translates to Injective boasting of an efficient revenue generation mechanism that could further boost prices. Feature image from iStock, chart from TradingView

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