Layer 1 blockchain Injective noted sizeable gains in recent days. Its token, INJ, gained 35%, rallying from Thursday’s low of $2.97 on the 19th of February to Saturday’s high of $4.02 on the 21st of February.
According to CoinMarketCap data, the token’s trading volume has increased 57% from the previous day.
Strong volume and noticeable gains followed after news of a $2 million INJ acquisition by Pineapple.
The finance mortgage platform and public INJ holder also wrote that the company maintains $20.79 million in capital reserves for continued INJ accumulation.
The Injective real-time EVM mainnet upgrade went live on Friday, the 20th of February. Accumulation and network upgrade news combined well during a period of sideways price action for INJ to send it soaring.
It might not be enough to reverse long-term INJ trend
Since September 2025, the Injective [INJ] token has posted lower highs and lower lows, characteristic of a downtrend. The technical indicators also signaled steady bearish pressure since then, with brief days of respite in between.
The bounce since the 19th of February was one such.
The RSI has climbed back above neutral 50 to signal a potential shift in momentum, but buyers should be wary. The CMF remained below -0.05 on this timeframe, showing sizeable capital outflows from the market.
The $4.16 and $6.09 were the nearby long-term resistance levels that INJ will face a substantial obstacle at.
Short-term losses expected for INJ
The previous lower timeframe high at $3.94 was broken on the 21st of February (orange). This factor explained why the $3.08 low was chosen as the swing low to plot the Fibonacci retracement levels.
While the $3.7 area was a former supply zone and could serve as support, Injective token prices will likely fall lower toward $3.44 and $3.28 in the coming days.
A retracement into this area would likely be followed by a move toward the higher timeframe resistances at $4.16 and $6.09. A breakout past these two swing points is needed to establish a long-term uptrend.
Final Summary
- The Injective investors should beware of the fact that the higher timeframe trend was bearish, but a rally toward $4.13 could occur in the coming days.
- The mainnet upgrade and the Pineapple INJ accumulation news gave short-term bullish impetus to the altcoin.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
