Injective ($INJ) Price Prediction for May 24
The post Injective ($INJ) Price Prediction for May 24 appeared on BitcoinEthereumNews.com.
After a powerful breakout from the $12.45 resistance zone, the Injective price today is trading around $14.60, registering an intraday gain of over 3.7%. This surge marks a strong continuation from last week’s bullish reversal, with momentum firmly on the side of the bulls as INJ clears major technical barriers and reclaims a key Fibonacci level. While the current rally reflects renewed investor interest, the short-term outlook hinges on whether bulls can maintain control above this breakout threshold or if volatility will trigger a consolidation before any attempt at $15. The market structure now shows a continuation pattern, supported by a series of higher highs and higher lows, confirming a short-term trend reversal. What’s Happening With Injective’s Price? The Injective price action over the last 48 hours confirms a textbook breakout from the descending wedge seen on the daily chart. The move came with solid volume expansion, pushing price above the 0.236 Fib retracement level near $12.44 and slicing through $13.50 with ease. Price is now consolidating just under the 100% retracement mark at $14.33. On the 4-hour timeframe, the structure appears robust, with the price supported by rising EMAs and a well-respected trendline originating from the May 7 low near $8.50. The 20 EMA has just crossed above the 100 EMA, confirming a bullish realignment. Why Is Injective Price Going Up Today? The question is: why Injective price going up today? The answer lies in the confluence of bullish technicals and broader market recovery. The upside breakout aligns with strength across the altcoin market, particularly in the DeFi segment. INJ, which powers the Injective Protocol’s decentralized trading infrastructure, has been gaining investor interest amid rising on-chain activity and TVL metrics. In addition, the price surge follows a successful retest of the 50% Fibonacci retracement zone at $10.33 earlier this…
