Injective Price Prediction: 2024, 2025, 2030

INJ price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, the lowest support was $6.
• Conversely, $43 was marked as the highest resistance mark.

2. Market sentiment

• The asset remains in a slightly bearish market in July 2024.

3. Predictive forecasts

• Based on our AI/ML algorithms forecasts, INJ is projected to trade at an average price of $1,000 in 2028 and more than $200,000 in 2035.

Stay informed on INJ’s prospects through a weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

INJ technical analysis: Reversal anticipations stir bullish sentiments

While 2023 was quite bullish for INJ, the Injective price prediction for 2024 can likely go either way. The analysis period began with the asset dropping until it fell to its lowest floor at $6. It wasn't until late October that a decisive rally enabled the price to recover. While the uptrend was briefly halted at $17 in November, INJ bulls flipped this level into support after a month-long test. Thus, it became a springboard for back-to-back pumps.
 

By mid-December, a substantial surge elevated the price above $32 while reaching a peak resistance of $43. This milestone was shortly followed by a minor dip, bringing the price closer to the former level. The price continued to trade within this tight range, pointing to a consolidation phase.   

March brought unprecedented development as INJ peaked at an all-time high (ATH) of $53. Yet, $43 maintained its position as a barrier. After this peak, declines followed. A bearish breakdown triggered by the market downturn in Q2 2024 caused INJ to fall below $32. Notably, the bulls held $23 as a cushion while struggling to overcome $27.
 

After defending $23 for two months, the bulls elevated INJ to briefly touch the support-turned-resistance at $32 in the second week of June. This surge was triggered by the network hitting a milestone of burning 6 million INJ tokens. 

Nevertheless, this development wasn’t enough to reverse the asset’s fortunes, as the bears pushed the price below $23 the following week. By July, it returned to $17. Repeating past patterns, this level pumped the price up to reclaim the former by mid-month. At the time of writing, the altcoin traded at $24.

How high/low can INJ go in 2024?

AMBCrypto recently reported that the Injective protocol launched its first exchange-traded product (ETP) issued by 21Shares. Meanwhile, the on-chain metrics indicated a gradual recovery in INJ's demand, limiting its short-term upside. However, its long-term effects could be more substantial.

Should the recent recovery continue and the altcoin surpass the $27 mark, it will regain bullish momentum. Breaking the $32 resistance could propel INJ toward a significant increase, potentially reaching its yearly peak and the ATH.
 

Our model predictions also offer a robust bullish perspective on INJ's future price trajectory. By 2028, the average trading price is projected to be around $1,000. Furthermore, crossing the six-digit mark is possible by 2035, with an expected average price exceeding $200,000.

The looming threat of bears can test the bulls’ ability to retrace their gains. If the selling pressure increases, INJ's price could decline to $17. The most bearish scenario envisaged would see the price retract below the critical $10 mark, representing a significant pullback from its current levels. 

INJ's 2024 roadmap: Key indicators to watch and trade

• The trading volume recovered from its initial lows in mid-October. Intermittent spikes were also observed during the consolidation period. Yet, the breakdown halted them, reflecting the presence of cautious investors in the market.
• In late July, a bearish crossover was observed in the Moving Average Convergence Divergence (MACD) indicator, which was later negated by a bullish crossover in late October. The MACD and the signal line experienced exponential growth until late January. 
• They declined after a brief stabilization period, forming another bearish crossover in mid-March. The lines turned negative by late May and early July, respectively. The latest values were the MACD line at -1.19, the signal line at -0.58, and the histogram at -0.62. Moreover, the former’s recovery hinted at a waning seller strength.
• The Bollinger Bands contracted as the price candles fell below the 20-week Moving Average (MA) in late August. This trend reversed in early October when the latter flipped to support. Additionally, the candles frequently crossed the upper band from late October through January, repelling the bands. 
• Volatility decreased again in April as the bands converged, following the candles' drop below the 20 MA and brief contact with the lower band. At the time of writing, the candles remained close to this MA, indicating a resurgence of buying pressure.