Injective (INJ) price is surging, up 30% in the last seven days and up 14% in the last 24 hours. Its trading volume soared more than 250% in the same period, reaching $274 million.
This strong price performance is supported by upbeat technical indicators, including the overbought RSI at 80.6 and BBTrend at its highest level since November 2024. If the golden cross occurs , INJ could see further gains, targeting up to $26.5, $29.4 and possibly $35.2, but downside risks persist if support levels fail to hold solid.
RSI INJ is in the overbought area
Injective’s Relative Strength Index (RSI) has risen sharply, now at 80.6, up from 61 just a day ago and 36 a week ago when its price began to rise recently. RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100, providing insight into whether an asset is overbought or oversold.
Values above 70 typically signal overbought conditions, suggesting a possible correction or consolidation, while values below 30 typically imply a possible price pullback.
At the current level of 80.6, INJ’s RSI shows that the asset is deep in overbought territory, reflecting strong bullish momentum driven by active buying activity.
While this points to high levels of market excitement and the potential for short-term profits, it also warns of a possible cool-down.
Injective’s BBTrend has hit its highest level since November 2024
Injective was launched with the promise of being a layer-1 blockchain to revolutionize finance. Its BBTrend currently stands at 11.05, just slightly below its recent peak of 11.36, reached a few hours ago. This marks its highest level since late November 2024, reflecting a significant recovery from -4.58 just two days earlier on January 4.
BBTrend, derived from Bollinger bands, measures the strength and direction of a price trend. Positive values indicate growth momentum, and negative values indicate weakening conditions.
At current levels, INJ’s BBTrend shows strong bullish momentum, suggesting buyers are in control and are pushing prices higher. The strong recovery from the negative zone shows a change in market sentiment, supporting a continued uptrend.
However, with BBTrend near recent highs, a stabilization or slight correction could occur if buying pressure eases, although the overall trend remains positive. Traders should watch to see if INJ price can maintain this momentum, or if a period of consolidation emerges in the short term.
INJ Price Prediction: New 36.4% Growth Ahead?
The EMAs show that INJ price is on the verge of forming a golden cross. That happens when a short-term EMA crosses a long-term EMA. If this happens, it could reignite buying momentum and push INJ to test resistance at $26.50, as the narrative around the cryptocurrency attempting to revolutionize TradiFi develops.
A break above this level could pave the way for further gains, with $29.4 being the next key target. If momentum remains strong, INJ could even test $35.2, a level not seen since early December 2024.
On the contrary, if the trend reverses and the golden threshold does not appear, INJ price may face downward pressure. The first key support lies at $23.98 and a break below this could result in further declines. In a more negative scenario, the price could drop to $19.70.