Selling pressure pushes Injective price lower in today's trading

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Injective slides 9.68% today to $5.42

Highlights

Injective's Vulcan mainnet upgrade introduced lower fees and native USDC settlement on June 9, 2026, boosting its DeFi infrastructure.
Asia's first regulated INJ investment product (M-INJ) and US-regulated INJ futures launched amid a doubled deflation rate and a $315,000+ buyback pool.
Despite strong trend indicators and medium-term support, INJ faces short-term selling with a projected five-day range of $4.95 to $5.74.

Sustained sell-off persists despite upgrades and increased buybacks

The Vulcan mainnet upgrade for Injective was launched on June 9, 2026, introducing lower fees and native USDC settlement to enhance infrastructure for perpetuals, stablecoins, and tokenized assets. Merkle Capital released M-INJ, the first regulated INJ investment product in Asia under Thailand's SEC, on June 5. U.S.-regulated INJ futures started trading on the CFTC-approved Bitnomial exchange in April 2026, and governance proposal IIP-617, which doubled Injective's deflation rate, passed with 99.9% approval. The June 2026 buyback pool was reported to exceed $315,000, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, identifies clear short-term weakness in Injective despite some longer-term support. He notes that intraday volatility is high, selling pressure persists, and daily closes are near session lows. Technical signals are mixed, with BBP in overbought territory even as the price retreats. Structural upgrades and positive buyback data have failed to generate bullish momentum, which signals market skepticism or exhaustion. "Sustained downside gaps and market apathy after news events suggest a fragile structure — buyers should remain cautious until confirmation of a reversal above $5.74."

Viktoras Karapetjanc, expert at Traders Union, highlights major tailwinds for INJ after the Vulcan mainnet upgrade and regulatory wins in Asia and the US. He sees growing institutional access and buyback activity as strong signs of underlying strength. Karapetjanc believes that advanced governance changes and streamlined infrastructure bolster long-term adoption prospects. "Despite short-term volatility, the bullish structure remains intact — further growth can be expected if momentum returns above $5.74."

Divergent momentum signals amid strong trend and persistent volatility

Momentum remains mixed as the Moving Average Convergence Divergence (MACD) gives a strong buy signal on the daily timeframe, and the Average Directional Index (ADX) indicates strong trend strength. The Relative Strength Index (RSI) stays in neutral-to-bullish territory (52.68), with Stochastic RSI and Commodity Channel Index (CCI) showing neither overbought nor oversold extremes. Bull/Bear Power (BBP) signals that buyers dominate (value: 0.64), but it is in overbought territory. Despite a downside gap of approximately $0.44, INJ/USD has dropped 9.68% so far today, placing the current price near the session low with daily volatility at 6.13%. These intraday moves show persistent downside pressure following the open, though daily momentum indicators remain supportive and highlight ongoing divergence.

Earlier, analysts noted that Injective was exhibiting short-term bearish momentum despite maintaining support from longer-term technical indicators. With recent upgrades and new investment products providing fresh catalysts amid heightened volatility, traders should closely monitor for a confirmed break above $5.74 or below $4.95 to signal the next directional move.

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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