Buying pressure lifts Injective higher in today trading

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Injective surges 10.23% to $3.42 today

Highlights

Injective (INJ) finalized its IIP-619 mainnet upgrade to scale real-time Ethereum Virtual Machine infrastructure and expand Chainlink oracle integration.
Pineapple Financial acquired $2 million in INJ tokens, amassing about 7% of total supply for treasury, while community buybacks continue to reduce circulating supply.
INJ trades at $3.42, positioned above the MA-20 ($3.25) but below MA-50 ($4.24), with key support at $2.45 and resistance at $3.61; technicals point to medium-term bearish pressure.

Token supply tightened and sentiment shifts as upgrades and buybacks coincide

Injective achieved a major network milestone with the approval of the IIP-619 mainnet upgrade, aimed at scaling its real-time Ethereum Virtual Machine infrastructure and deepening Chainlink oracle integration. During the process, Upbit and Bithumb temporarily paused INJ deposits and withdrawals as a precaution. Meanwhile, Pineapple Financial disclosed a $2 million acquisition of INJ tokens, accumulating about 7% of supply for its treasury, and the ongoing community buyback program recently completed its 226th round to further reduce circulating supply.

Anton Kharitonov, expert at Traders Union, notes the technical setup for INJ remains fragile. He highlights that price is under the MA-50 and MA-200, and that recent momentum is mostly short-lived. Kharitonov sees mixed signals from the indicators and cautions about the divergence between price action and oscillators. He is skeptical regarding the sustainability of today’s bounce, especially with institutional accumulation unlikely to counteract persistent selling. "Until INJ convincingly reclaims $3.61 or MA-50, I consider any rebound a likely bull trap."

Viktoras Karapetjanc, expert at Traders Union, sees constructive developments for Injective following the network upgrade and notable treasury accumulation announcements. He believes that increased oracle integration and strong institutional commitment signal advancing fundamentals. Karapetjanc stresses that robust community engagement and active buybacks are providing a solid backdrop for future appreciation. He highlights that the bullish structure remains intact despite short-term volatility. "With fundamentals aligning and ecosystem growth underway, I expect INJ to outperform once broader sentiment stabilizes."

Parshwa Turakhiya, analyst, observes an uptick in short-term volatility and a brief influx of buying interest. He notes that sentiment is swinging quickly as news about treasury buys and paused exchange activity catch traders’ attention. Turakhiya points to elevated volatility and intraday gains, but cautions that resistance near $3.61 may cap upside. He remains alert for both sudden reversals and range trading scenarios. "For nimble traders, the best setups now may be playing bounces off $2.45, but I’d keep stops tight in this choppy environment."

Bearish momentum diverges from intraday strength amid volatile session

Momentum indicators are mixed: the daily MACD signals strong selling while the ADX remains elevated, confirming underlying trend strength yet with a bearish bias. RSI is low at 43.97 and Stoch RSI is overbought, highlighting possible short-term exhaustion; CCI is neutral. BBP shows an intraday dominance of buyers. The daily move is up 10.23% from the previous session, with no significant gap at the open. The current price is close to the upper end of today's trading range, indicating elevated volatility and persistent intraday strength toward highs. There is a notable divergence between some oscillators and price action, as momentum signals remain bearish despite robust intraday gains.

Previously it was reported that Injective (INJ) exhibited short-term bullish momentum above its 20-day moving average, yet remained under significant medium- and long-term downward pressure, with immediate resistance at $3.63 and support at the MA-20. While intraday price action showed notable strength and volatility, daily momentum indicators such as MACD, RSI, and BBP pointed to prevailing selling pressure and oversold conditions, signaling ongoing divergence between short-term gains and the broader bearish trend.

Source of Data: INJ Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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