Injective Price Plummets 95%: Key Accumulation Zone in Focus
Injective (INJ) is facing a technical test after a significant correction. The price has dropped by 95% from its 2024 cycle high, and the current level of $1.10 is crucial for the broader setup.
A CryptoPatel analysis on TradingView's INJ/USDT chart identifies the $3-$5 area as a potential long-term accumulation zone. This region is described as an accumulation zone with price action forming a rounded base after the prolonged decline.
However, support alone does not confirm a reversal. Injective would need to reclaim its descending resistance line and establish higher highs before the bullish scenario becomes technically stronger. CryptoPatel projects potential expansion toward $80 and $200, but these are scenarios rather than confirmed price targets.