Double-Bottom Structure Forms in Injective as Price Eyes Breakout

Injective's (INJ) price has formed a potential double-bottom structure, according to crypto analyst Crypto With Gopal. The token is trading near $5.36 after establishing two significant lows around the $3-$3.5 region.

This setup suggests buyers are attempting to establish a stronger base following an extended period of weakness. However, the pattern remains incomplete as INJ must reclaim the $9.0-$9.2 resistance zone, which serves as the neckline of the formation.

A confirmed breakout above this area could strengthen the bullish reversal case, with the analyst's chart projecting a potential move toward $16. Currently, INJ's short-term technical momentum remains weak, and it is trading near the lower Bollinger Band at approximately $5.1372.