INJ Price Faces Bearish Pressure—Just as Injective Unveils Bold Ecosystem Growth Plan

Injective's token takes a hit while the team doubles down on expansion. Timing is everything—or is it?

Bearish winds batter INJ

The native token of decentralized exchange protocol Injective (INJ) struggles as market sentiment sours. No surprise here—crypto winters freeze even the hottest projects.

Growth initiative lands with a thud

Team announces ambitious ecosystem funding program right as prices dip. Classic 'build while bleeding' crypto strategy—VCs love it, traders less so.

Finance jab of the day

Nothing boosts tokenomics like announcing an announcement during a downturn. Wall Street bankers wish they had this level of narrative control.

That said, the recent dip to $8.95 formed a higher low along the ascending long-term trendline, which formed after INJ price had reversed from $6.34 in early April — the lowest level since September 2023. This suggests that, despite the bearish breakdown, INJ remains technically within a broader uptrend, reinforced by its continued position above the 100-day SMA.

If the price reclaims the neckline and closes above $11.30 – $12.00 with strong volume, the bearish scenario weakens. That WOULD form a bear trap, and bulls could push to retest $14.30 — the swing high that marked the peak of the right shoulder.