Injective ($INJ) Set to Enter Wave 3 Following Robust Accumulation Phase

Injective ($INJ) Market Analysis

• Current Support Levels: Injective has established a strong support range between $6 and $9, following significant price corrections after peaking above $50 in early 2024. This consolidation phase is seen as a foundation for potential long-term upward movement.

• Historical Performance: The token's historical behavior indicates that it often consolidates before major price expansions, reinforcing the current technical outlook. The demand within the support band suggests that market participants are holding their positions, which has helped prevent deeper price declines.

Breakout Potential

• Resistance Testing: INJ has tested resistance at $15 while maintaining higher lows above the support range. A sustained move above this level could lead to price targets of $30, $50, and $70, with each level acting as a checkpoint rather than a direct ascent.

• Elliott Wave Analysis: The Elliott Wave model indicates that the next major impulse, referred to as Wave 3, could push INJ into triple digits, potentially exceeding $100. This projection relies on increased trading volume and favorable liquidity conditions.

Future Price Projections

• Phased Growth Outlook: The anticipated growth phases for INJ are outlined as follows:

  • Phase 1: Accumulation at $6–$9
  • Phase 2: Markup through $30, $50, $70
  • Phase 3: Euphoria at $100+

• Cyclical Nature of INJ: The price history of Injective reflects a cyclical pattern, with the recent consolidation suggesting readiness for another structured attempt at higher valuations. The strong rally followed by corrections mirrors previous market cycles, indicating a potential for significant price increases.

Disclaimer

• The article serves informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making investment decisions.