Injective Slides 12% This Month – Will INJ Bounce Back Toward $20 in Q4?
Injective’s 12% slide this month has left traders questioning whether the downturn is just temporary turbulence or a signal of deeper weakness. With Q4 in motion, attention is on whether INJ can muster enough strength to reclaim higher ground and potentially retest the $20 level. This analysis looks at Injective’s current technical setup and what factors could drive its next decisive move.
Injective (INJ) Displays Mixed Signals Amid Price Struggles
Injective (INJ) is navigating choppy waters with its current price between nearly $14 and $17. The coin faces a tough ceiling at $18, while finding some ground just above $12. Lately, the price has dipped by more than 10% in a week, showing a weakening trend over the month and the past six months as well. Despite the current downturn, if market conditions improve, there is potential for growth. INJ could surge over 25% to the next major resistance at $21. However, with an RSI of 38, the coin is not oversold yet, leaving plenty of room for potential upward momentum if the bulls take charge.
Conclusion
Despite recent declines, Injective’s support near $12 and resistance around $18–$21 provide a clear roadmap for potential recovery. With its RSI still leaving room for upward momentum, a rebound toward $20 remains on the table if buying pressure picks up. While caution is warranted given recent weakness, INJ could still surprise with a late-year push, making it one to watch closely through Q4.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Investment Disclaimer
