Injective Price Stalls Near $6.55 Resistance Amid Overbought Signals
Injective (INJ) is trading around $6 following a nearly 3% decline this past week, as buyers push higher but momentum looks stretched. The recent push came amid several protocol milestones and product developments, but overbought signals begin to limit further upside. Market participants will be watching closely whether this momentum can carry into next week or if a pullback is due.
The current price of INJ is $5.87, down 2.97% over the past 7 days but above key daily moving averages. The prevailing trend structure is bullish with buyer dominance confirmed and volatility for the week at 15.11%. Injective is projected to trade between $5.59 and $7.26 next week with $5.69 as support and $6.55 as resistance.
The protocol has been making significant progress, including a mainnet upgrade to version 1.20.3, introducing Injective Mint for SEC- and MiCA-compliant tokenized equities and bonds. The monthly Community Buyback also burned 25,200 INJ tokens, reflecting ongoing commitment to long-term supply reduction.