Injective, a layer-one blockchain designed for decentralized finance (DeFi) applications, has seen its native token INJ signal market momentum. During the Asian trading session, the digital asset opened its market price with a value of $13.96, which has continued to surge, hinting at ongoing healthy price action. Injective Current Market

• INJ trades between $12.94 and $14.87 with a strong upward trend and 11.75% daily gain.
• An inverse head and shoulders pattern has completed, with price holding above a reclaimed neckline.

Injective, a layer-one blockchain designed for decentralized finance (DeFi) applications, has seen its native token INJ signal market momentum. During the Asian trading session, the digital asset opened its market price with a value of $13.96, which has continued to surge, hinting at ongoing healthy price action.

Injective Current Market Movement Revealed

Tracking the current market trajectory as of press time, CoinMarketCap data indicates that Injective is priced at $14.48, gaining 11.75% in the past 24 hours. Market capitalization reached $1.44 billion, also up by 11.75%. Trading volume surged 37.49%, totaling $256.63 million within the same period, as the token’s fully diluted valuation stands at $1.44 billion.

Price action shows a steady climb from $12.97 to the current level. A notable increase occurred overnight, leading to a volume-to-market cap ratio of 17.58% in just 24 hours. During this session, INJ recorded a 24-hour low of $12.94 and reached a high of $14.87. This $1.93 range reflects strong intraday volatility within the market as the price moved steadily between these two levels throughout the trading period.

INJ Charts Inverse Head and Shoulders, Eyes Upside

Following this strong performance, market analysts have weighed in on whether the current trend will continue, potentially reaching new levels. According to a technical analysis by Alpha Crypto, Injective (INJ) has completed an inverse head and shoulders formation on the daily timeframe, signaling structural strength.

The token returned to its neckline level and then continued higher, which confirmed the pattern was still valid. The rise was accompanied by greater trading volume as stability in the price above the breaking point made the breakout more reliable.

A deeper analysis of his observation indicates that INJ recently surged above $13 and is following a rising trendline. The 50-day EMA has crossed above the 100-day SMA. The analyst has projected a price movement within an ascending channel toward the $17 level.

INJ is holding firm above the neckline zone that previously marked strong resistance. This level has now flipped into support. Price is holding steady and strong above this region, which continues to back the existing trend.

The data shows that trading interest has gone up since the neckline broke through. Prices increasing with the volume shows the trend’s continued strength. Lately, there has been no retracement that interrupted the trend, which suggests that momentum is still strong in the daily structure as trading occurs mainly near the breakout levels.

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