Injective Price Forms Double Bottom Pattern, $7.20 Target in Focus

Injective's price has formed a double bottom pattern, suggesting that it may be due for a rebound. The $5.50 resistance level is now in focus, and buyers have successfully defended the $4.00 support level twice.

The price of Injective's token ($INJ) currently stands at $4.76, with some analysts targeting $7.20 as the next major milestone. This target suggests a significant increase in value for the token over the coming period.

Injective has recently expanded its tokenization efforts by partnering with a SEC-registered transfer agent. Additionally, the company has been selected by POSCO International and LG CNS to participate in a live pilot project in July.