The Injective (INJ) price appears to be gearing up for a strong upward move, and the latest chart from World of Charts supports that idea.
After a period of decline, INJ has just broken out of a descending wedge pattern and bounced strongly from a key horizontal support level around $11. This level has served as a major area of interest for weeks, holding up the price multiple times in May and June.
INJ Price Respecting Strong Support at $11
The chart clearly shows that $11 is acting as a major floor for Injective. Every time the price has dipped near this zone, buyers have stepped in. The most recent touch of this level led to a strong bounce, showing that traders still see this area as a good accumulation zone. It’s the kind of price action that often signals a shift in momentum.
What makes this recent bounce even more important is that it coincides with a breakout from a downward trendline. This trendline had been pressing the INJ price lower for days. But now that price has moved above it, traders may start positioning for a new bullish wave. World of Charts pointed this out, saying that “multiple resistances already got cleared” and that INJ looks ready for recovery.
Next Target: $14 and Beyond?
World of Charts suggests a possible 30 to 35% bullish move from this setup. The projection box on the chart highlights a potential target of around $14, which would be a $2.80 move from the current price zone. That aligns with previous local highs and could be the next key resistance level if the rally continues.
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The combination of strong horizontal support, a wedge breakout, and bullish trader sentiment is giving the INJ price a serious push. If Injective can maintain this momentum and volume increases, a climb toward the $14 level looks achievable in the short term.
For now, all eyes are on how Injective handles the coming sessions. If buyers stay in control, this could be the beginning of the next bullish wave.
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