Injective Poised for Major Move if Multi-Year Resistance Finally Falls

Injective (INJ) price nears breakout at $16-$17 after months of resistance tests. Rising volume hints at a possible move above $20 soon.

Injective (INJ) looks ready to break free from a stubborn price ceiling it has tested for almost a year. The token is now hovering in a crucial $16 to $17 zone where a multi-month descending resistance line meets current trading. Increasing volume and weakening selling pressure suggest a breakout may be near.

If $INJ clears this barrier soon, it could trigger a move above $20. Analysts say this setup signals years of pent-up supply could finally clear, opening the way for a sharp rally.

Injective Price Chart Signals Waning Selling Pressure

Injective has faced a strong descending resistance line for over 12 months. Every test of this trendline resulted in rejection, but the intensity of those rejections has diminished. 

Crypto analyst CryptoBusy points out that sellers appear exhausted as each bounce off the line gets weaker. The price currently rests at the critical breakout zone between $16 and $17. Volume trends reinforce this outlook as buying activity steadily increases. This combination hints the market is gearing up for a move beyond the resistance.

This pattern suggests bulls are gaining ground as bears lose momentum. When a long-held trendline finally gives way, it often leads to a swift and significant price shift. 

Injective has been trapped under this ceiling for years, and overcoming it could remove a major barrier to growth. The next resistance above the breakout zone is limited, potentially pushing the price towards $20 or higher.

Volume Builds to Support a Potential INJ Rally

Volume is a crucial factor in confirming a breakout. As the price nears the resistance, the rise in trading activity indicates more participants are entering the market. 

Crypto analyst Black Angel highlights that volume is “quietly stacking” behind the scenes. This suggests buying pressure is accumulating steadily, increasing the chances of a successful breakout. Higher volume reduces the likelihood of a false breakout and increases confidence among traders.

The price action’s volume profile shows buyers are ready to challenge the trendline. This shift in supply-demand balance could trigger a rapid upward move. The accumulation phase often precedes major price shifts, and INJ seems to be in this phase now. 

If the token manages to hold above the trendline, it could flip resistance into a new support level, clearing the way for a sustained rally.

Injective Fundamentals Align With Technical Strength

Injective’s technical setup is backed by solid fundamentals. The project maintains strong activity despite a choppy market. It currently has over 129,000 monthly active users supporting its decentralized finance infrastructure. 

Development teams continue to build new features and protocols. This ongoing growth adds credibility to the breakout scenario.

Market observers note that Injective’s position as a leading DeFi protocol helps sustain interest in the token. The combination of growing on-chain activity and an imminent technical breakout is a rare alignment. 

CryptoBusy remarks that this feels like a “look back and wish you bought” moment for investors. If INJ breaks the trendline and sustains momentum, the path to $20 and beyond could open quickly.