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Injective Price Eyes $5.80 Recovery Amid Community Buyback

Guavy AI Editorial Team
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INJ
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The Injective (INJ) price has been under selling pressure due to bearish technical indicators, but there is still room for potential recovery if buyers regain momentum.

At $4.60, INJ's market capitalization stands at $453.43 million with a 24-hour trading volume of $60.49 million.

The protocol has launched its August community buyback program, which aims to strengthen the project's deflationary approach and increase ecosystem participation.

According to TradingView, INJ price is below both the Tenkan-sen and Kijun-sen, with the Ichimoku Cloud acting as overhead resistance between $4.95 and $5.10.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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