Injective’s $6.41 Low Marks Support as Weekly Chart Stays Bearish

INJ remained above its early-October low of $6.41, a level identified as support.

INJ has moved above a cup-and-handle pattern, with the breakout area near $6 being tested as support. The weekly structure is bearish: an area near $8 that previously acted as demand is now treated as supply, and $9.60 marks the 50% retracement level.

Daily readings point in different directions. On-balance volume maintained an uptrend during the pullback from $9.41 over the prior 10 days, while the moving average convergence divergence indicator neared a bearish crossover below zero.

Earlier Injective chart levels included support at $7.17 and $6.68, with resistance at $8.02 and stronger resistance at $8.39.