Injective (INJ) is trading under sustained bearish pressure, mirroring the broader weakness in the crypto market. Over the past 24 hours, INJ has dropped nearly 1.06%, while recording a 1.05% loss over the week.
At the time of writing, INJ is trading at $12.95, with a 24-hour trading volume of $90.07 million, which is down 5.35% over the last 24 hours. The token’s market capitalization is $1.29 billion, highlighting its status as a notable mid-cap cryptocurrency.
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A major development for the Injective ecosystem is the recognition of Pineapple Financial (PAPL), the first and largest publicly traded company linked to INJ. This exposure marks an important milestone, bringing professional market participants closer to the Injective network and its expanding influence.
With $100 million already allocated, Pineapple Financial is positioned for ambitious growth. The company’s presence at such a high-profile level opens new avenues for strategic partnerships and deeper market penetration.
For Injective, this could translate into broader adoption and a stronger foothold across global digital asset markets. Institutional recognition often accelerates trust and adoption, providing momentum for the asset’s long-term trajectory.
Technical patterns also favor a probable shift of momentum. On the INJ 4-hour chart, a downtrend falling wedge pattern has concluded, routinely signifying a reversal to the upside after consecutive falls.
The price recently broke above the upper trendline of the wedge and is challenging the breakout region at approximately $12.80–13.00. Holding such a region as support would confirm the bull case.
According to crypto analyst World Of Charts, immediate support rests at levels of $12.20 and $12.60, at which price it has consolidated more than once. On the upside, bulls aim at a push to $16, and the resistance rests between $15.80 and $16.40. Violation of the latter range could open the way to $17 and $18, with better continuation at said levels.
A break below $12.80 might disrupt the bullish pattern, especially if the price plummets to $12.20. Upward volume trends, on the other hand, reflect rising purchasing power, which is favorable for maintaining the bullish stance. If momentum continues, Injective stands the chance of being among the altcoins’ leaders for the sessions to follow.
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