Here’s a current price snapshot of Injective (INJ) and what’s happening with its recent support tests and price drops:
Injective (INJ)
$4.57
-$0.20 (-4.19%) Today
1D
5D
1M
6M
YTD
1Y
5Y
📉 Recent Price Action
INJ is trading around ~$4.5–$5.5 depending on exchange data — generally reflecting weak near‑term momentum and declines over the last days/weeks. �
CoinMarketCap +1
The token has been down significantly vs. its all‑time high (over ~90% below peak). �
CoinGecko
Monthly and weekly movement shows INJ has dropped and struggled to find upside traction in broader market weakness. �
CoinCodex
📊 Support Levels Being Tested
Short‑term support levels where price has been reacting or holding include:
(Note: these aren’t financial advice — just commonly watched technical levels)
Current key support areas:
~$4.60–$4.75 — near intra‑day support demonstrated on pivot analyses. �
CoinCodex
~$4.50 — often noted as a psychological near‑term downside pivot. �
CoinCodex
Support here matters because recent prices have bounced or stalled around these levels, suggesting some buyer interest in this zone. �
CoinCodex
Resistance (recent bounce targets):
~$4.90–$5.00 — short‑term resistance observed on live price charts. �
CoinCodex
Technical indicators from live data also show bearish momentum (e.g., RSI in sell territory), which typically aligns with continued pressure unless momentum shifts. �
Investing.com
📉 Why the Drops & Tests Are Happening
Several factors appear to be contributing to current downward moves and repeated tests of support zones:
🧠 Market Sentiment & Technical Pressure
Analysts have noted selling pressure on INJ, with price dropping and key moving averages above current levels — indicating dominant bearish trends lately. �
Blockonomi
🪙 Volume & Volatility
Trading volumes have shown mixed interest — sometimes spiking during sell‑offs — which can accentuate short‑term price swings and support tests. �
blockchainreporter
🔁 Historical Retracement Levels
Past market cycles (e.g., retests of August lows) show INJ has historically revisited major support zones during corrections, before either consolidating or resuming directional moves. �
CCN.com
🧭 What Traders Watch Next
📌 Bullish signs would include a clear break above short‑term resistance around $5.0–$5.5 with volume support.
📌 Bearish continuation could see deeper tests if price loses the $4.5 area convincingly.
Some forecasts and technical models also suggest possible upside if oversold conditions resolve — targeting higher resistance levels — but these scenarios depend heavily on broader market recovery. �
MEXC
If you want, I can provide a quick list of key technical levels (support/resistance) on major timeframes like 1D or 4H for INJ — just let me know what timeframe you’re analyzing!
