Injective price prediction: Overbought momentum before Volan launch? INJ gains 9.27%

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Injective jumps 9.27% to $3.42 today

Highlights

Upbit and Bithumb will suspend Injective (INJ) deposits and withdrawals on February 19, 2025, to enable the 'Volan' mainnet upgrade focused on scalability and security enhancements.
Pineapple Financial established a $100 million Injective treasury, holding over 7 million INJ tokens—representing approximately 7% of the total supply.
INJ trades at $3.42, facing key resistance at $3.61, with technicals indicating heightened volatility and a high probability of price retracement toward $3.10–$3.55 over the next week.

Token flow risks rise as major exchanges halt deposits for upgrade

Upbit and Bithumb have announced temporary suspensions of Injective token deposits and withdrawals starting February 19, 2025, to support the 'Volan' mainnet upgrade, which aims to enhance scalability and security for the protocol. The Injective community has also approved the IIP-619 proposal to upgrade the network's EVM architecture, offering broader payment support. In addition, Pineapple Financial established a $100 million Injective treasury and reported holdings exceeding 7 million INJ tokens, representing about 7% of all supply.

Overbought intraday with diverging momentum as medium-term weakens

Momentum signals for INJ are mixed: the Average Directional Index is elevated and issues a Sell reading, while the MACD points to strong bearish momentum. The RSI is subdued at 43.97, and Stochastic RSI is firmly overbought, indicating a risk of near-term retracement. Bull/Bear Power also shows overbought conditions, implying buyers remain dominant intraday; however, the Awesome Oscillator reads neutral. Current support is near $3.25, with resistance at $3.61 — price action remains positive but diverges from underlying momentum trends, which remain weak medium term.

Bearish tilt widens as weak momentum meets narrow trading band

Over the next five trading days, INJ is likely to trade within a typical volatility band of $3.10 to $3.55 around current levels. The probability of further price gains is quite low (less than 20%), while a decrease is more likely according to bearish daily and weekly signals. The base outlook is for sideways movement between support and resistance; a bullish outcome would require a clear move above $3.61, while a bearish scenario would develop if $3.25 is lost, potentially targeting $3.10 or lower.

Anton Kharitonov, expert at Traders Union, sees limited upside for Injective despite recent news and short-term price strength. He notes that bearish momentum dominates and technical resistance at $3.61 remains firm. Fundamental developments like the Volan mainnet upgrade and Pineapple Financial's involvement have not shifted medium-term sentiment. "Unless INJ can reclaim the $3.61 level with strong momentum, I remain cautious and expect mostly sideways or lower price action in the near term."

Previously it was reported that Injective (INJ) trades above its short-term moving average, reflecting recent bullish momentum, but remains under downward pressure in medium- and long-term trends, with immediate resistance near the MA-50 and key support at the Ichimoku Kijun. Indicators remain mixed, as daily MACD and an elevated ADX confirm bearish undertones despite robust intraday gains, while the RSI signals limited upside with signs of potential short-term exhaustion.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.