Injective Surges Following Major Integration: Analysts Predict INJ’s Breakthrough to This Next Price Level
The price of decentralized trading protocol Injective (INJ) has risen sharply over the past 24 hours, driven by growing optimism among analysts and news of a significant integration. According to data from CoinMarketCap, INJ trades at $43.06, up by over 12% in the past day.
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Analysts’ Perspectives
Several factors appear to be contributing to Injective’s upside momentum. Top crypto analyst CryptoJelleNL had noted in a tweet over a week ago that after breaking out of a prolonged downtrend and recording new highs, INJ had established bullish market structure again. He expressed confidence that the altcoin was preparing for its next big leg higher and estimated its price could surge past the key $50 resistance level in the near future, if bullish conditions remained intact.
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Show more +His upbeat analysis was echoed by fellow trader Crypto Tony in a tweet, where he pointed to INJ’s price chart to underline that a fresh record high seemed imminent based on the strengthening trend.
Injective’s gains were further propelled by the announcement of its first major integration outside of the Ethereum network. The announcement revealed exclusive support for Ethena’s algorithmic stablecoin USDe, marking the first partnership for Ethena beyond the Ethereum ecosystem. The integration effectively brings USDe to Injective’s order book platform and wider Inter-Blockchain Communication community.
Prateek Tripathi, a top figure in crypto, in a tweet, noted the integration would allow developers to utilize the advantages of USDe’s algorithmic design on their applications. The exclusivity of the partnership is a potential vote of confidence in Injective.
The Potential for New Highs
Analysts believe the confluence of encouraging technical signals, bullish price predictions and the high-profile integration news have energized INJ investors. If it sustains its upward trajectory over the coming sessions, the cryptocurrency could challenge CryptoJelleNL’s $50 target before long.
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