Injective sinks 8.04% as persistent selling keeps price below moving averages

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Injective drops 8.04% today to $4.17

Highlights

Injective’s Vulcan mainnet upgrade reduces oracle gas costs by 90% and integrates institutional-grade price feeds for smart contracts.
Expanded EVM developer access and support for tokenized securities, commodities, and structured credit products are expected to drive new applications.
INJ/USD remains under persistent selling pressure, trading near session lows with high volatility and a projected range of $3.94 to $4.40 over the next 2–3 days.

Utility expansion tempered by weak price action after Vulcan upgrade

Injective completed the Vulcan upgrade on its mainnet, a move that reduces oracle gas costs by 90% and brings integration with Pyth Pro and SEDA, according to Cryptobriefing. This upgrade expands EVM developer access and introduces institutional-grade price feeds for smart contracts, enabling new applications in tokenized securities, commodities, and structured credit products. These enhancements directly improve the asset's utility and lower operational barriers, though price action has remained under broader selling pressure.

Support near MA-200 as negative momentum dominates indicators

On the h1 chart, INJ trades below its MA-20 and MA-50, but remains just above the MA-200, marking this level as daily and longer-term support. The Ichimoku Kijun stands at $4.44, serving as immediate resistance. Momentum indicators are predominantly negative: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both signal a sell bias. The Relative Strength Index (RSI) is sharply oversold at 25.15, confirmed by an oversold Commodity Channel Index (CCI) reading. While the Stochastic RSI shows a buy signal, Bull/Bear Power and the Awesome Oscillator point to continued seller control and downside momentum. Mixed cues from short-term oscillators highlight prevailing uncertainty following the recent decline.

Further downside likely amid persistent resistance and weak reversal odds

Over the next two to three trading days, INJ is expected to consolidate in a range between $3.94 and $4.4, reflecting typical volatility for the current environment. The probability of an immediate upward move is considered very low, with downside risk remaining elevated and a near-term reversal unlikely under current conditions. A sustained push above $4.44 would be required to trigger a bullish scenario, while a move below $3.94 would signal further weakness.

Anton Kharitonov, analyst at Traders Union, notes that Injective has delivered a major network upgrade, but market reaction stays negative. He sees technicals clearly skewed to the downside, with persistent selling pressure and no confirmed reversal signals yet. Broader sentiment continues to outweigh utility improvements for now. "Unless INJ can firmly reclaim $4.44, I remain defensive and see limited reason to expect a sustained recovery in the near term."

In a recent review, analysts highlighted that Injective was experiencing pronounced bearish pressure despite ongoing network upgrades aimed at enhancing utility and developer access. The current technical setup reinforces this outlook, with downside risk persisting and traders advised to monitor for a potential breakdown below the $3.94 support as an early signal of further weakness.

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.