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 bearish market in September 2024.

3. Predictive forecasts

• Based on our AI/ML algorithms forecasts, INJ is projected to trade at an average price of $60 in 2031 and $120 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: Bulls mobilize for a comeback

While 2023 was quite bullish for INJ, the Injective price prediction for 2024 can likely go either way. The analysis period began with the bulls regrouping to claim $6 as its lowest floor in mid-September. It wasn't until late October that a decisive rally enabled the asset to appreciate significantly. 

The uptrend was briefly halted at $17 in November, but 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 $22 as a cushion while struggling to overcome $27.

After defending $22 for two months, the asset briefly touched 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 INJ’s fortunes, as the bears pushed the price below $22 the following week. By July, it returned to $17. The broader market recovery pumped the price to reclaim the former by mid-month, concurrently testing $27. 

AMBCrypto noted that the bulls were losing strength and the price could move south again. This materialized as the asset retracted its steps to the previous support by the end of July. After briefly stabilizing, it retested $22 in mid-August.

Nonetheless, the following rejection pulled the price below the nine-month-long support at $17, putting it up as a barrier by September. AMBCrypto highlighted Injective Labs’ launch of a tokenized index for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) triggered a price uptick.

However, the asset was rejected at $17. After a brief struggle, INJ successfully reclaimed it by mid-September. At the time of writing, the altcoin traded at $20.

How high/low can INJ go in 2024? 

AMBCryto’s recent analysis highlighted a falling wedge pattern on the three-day chart. A breakout over it would result in a parabolic rally. The on-chain data indicated that holders remained optimistic, further supporting this outlook.

If the recent recovery continues and the altcoin surpasses the $22 mark, it will regain bullish momentum in the higher time frame. Furthermore, the Injective protocol’s first exchange-traded product (ETP) could have substantial long-term effects on the asset. 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 modest bullish perspective on INJ's future price trajectory. By 2031, the average trading price is projected to be around $60. Furthermore, crossing the three-digit mark is possible by 2035, with an expected average price exceeding $120.
 

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. If this support is decisively compromised,  the asset can retract to $14-$13, 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 limited them, reflecting the presence of cautious investors in the market.
• The Moving Average Convergence Divergence (MACD) indicator formed a bullish crossover in late October. Furthermore, the MACD and the signal line experienced exponential growth until late January. However, they declined, forming a bearish crossover in mid-March. 
• The lines turned negative by late May and early July, respectively. The latest values were the MACD line at -2.26, the signal line at -2.00, and the histogram at -0.26. This value increase from previous lows pointed to a resurgence of bullish sentiment.
• The Bollinger Bands’ contraction reversed in mid-October after the 20-week Moving Average (MA) flipped to support. Additionally, the candles frequently crossed the upper band between late October and January, repelling the bands. 
• Volatility decreased again from April as the bands converged, following the candles' drop below 20 MA and brief contact with the lower band. At the time of writing, the candles’ proximity to this MA indicated a slight uptick in buying pressure.