INJ Price Squeeze: $4.59 to $4.82 Before Breakdown

Injective's native token INJ is currently trading at $4.43, down from its peak in January when the project announced a permanent acceleration of its supply burn. Despite this catalyst, the market spent most of the year fading it out.

The token has been stuck in a tight 24-hour range between $4.28 and $4.48, with spot volume on Binance at a thin $2.5 million. This lack of interest from buyers suggests that INJ is waiting for a reason to move.

However, the 200-day Simple Moving Average (SMA) sitting at $4.12 provides structural support and has not been broken down through. Historically, altcoins that sustain their 200-day SMA during prolonged compression phases tend to resolve with sharp upside breaks rather than slow deterioration.

The technical indicators show a bearish chart with flatlined momentum and an RSI of 39 in the lower half of neutral. The MACD histogram has hit zero, but no longer accelerating lower either.