Injective (INJ) Price Struggles Despite Ethernia Upgrade and Staked ETF Filing
Darius Baruo Aug 06, 2025 05:24
INJ trades at $12.79 (-3.47% in 24h) as technical indicators signal bearish momentum despite recent EVM compatibility upgrade and Cboe's first staked INJ ETF filing.
Quick Take
• INJ currently trading at $12.79 (-3.47% in 24h) • Injective's RSI at 46.77 shows neutral positioning with bearish MACD divergence • Ethernia Upgrade launched with EVM compatibility while Cboe filed for first staked INJ ETF
What's Driving Injective Price Today?
The INJ price has declined 3.47% in the past 24 hours despite a series of fundamentally positive developments over the past week. The most significant catalyst was Injective's launch of the Ethernia Upgrade on July 31st, which introduced Ethereum Virtual Machine (EVM) compatibility to the network. This upgrade allows Ethereum-based smart contracts to run natively on Injective, potentially expanding the platform's developer ecosystem and use cases.
Adding to the positive sentiment, the Chicago Board Options Exchange (Cboe) filed for the first staked Injective ETF in the United States on July 28th. This institutional recognition represents a major milestone for INJ adoption and could attract traditional investors to the Injective ecosystem.
However, despite these positive developments initially driving INJ price up 5% following the announcements, the momentum has since faded. The current price action suggests that traders may be taking profits after the initial rally, or the broader cryptocurrency market conditions are weighing on individual token performance.
Binance's temporary suspension of INJ deposits and withdrawals to support the network upgrade has been completed without major issues, eliminating any technical concerns that might have pressured the INJ price.
INJ Technical Analysis: Bearish Signals Emerge
The Injective technical analysis reveals mixed signals with a bearish bias in the short term. INJ's RSI currently sits at 46.77, placing it in neutral territory but trending downward from overbought levels. This suggests that selling pressure is building as the recent rally loses steam.
More concerning for INJ bulls is the MACD indicator, which shows a bearish crossover with the MACD line at 0.0539 falling below the signal line at 0.2936. The negative MACD histogram of -0.2397 confirms this bearish momentum shift for Injective.
The Stochastic oscillator provides additional bearish confirmation, with both %K at 19.82 and %D at 27.25 sitting in oversold territory. While this could indicate a potential bounce, the current trend suggests continued downward pressure on the INJ price.
Injective's position within the Bollinger Bands shows the token trading near the lower band, with a %B position of 0.2059, indicating INJ is in the lower 20% of its recent trading range. This typically suggests oversold conditions, though it can also indicate continued bearish momentum.
Injective Price Levels: Key Support and Resistance
Based on current Injective technical analysis, several critical levels emerge for INJ/USDT traders. The immediate Injective support levels sit at $11.91, which represents the next major downside target if selling pressure continues. Below this, the strong support zone at $8.95 could provide a substantial floor for the INJ price.
On the upside, INJ resistance appears formidable at $16.35, which serves as both immediate and strong resistance according to technical indicators. This level aligns closely with previous rejection points and would likely require significant volume to break.
The Injective pivot point at $13.01 represents a crucial battleground level. A sustained move above this point could signal a return to bullish momentum, while failure to reclaim it may lead to further downside pressure toward the immediate support levels.
Traders should note that INJ's Average True Range (ATR) of $1.11 indicates moderate volatility, suggesting that moves of $1-2 in either direction are normal daily fluctuations for the token.
Should You Buy INJ Now? Risk-Reward Analysis
The current setup presents different opportunities depending on trading timeframes and risk tolerance. Based on Binance spot market data, conservative traders might wait for a clear break above the $13.01 pivot point before considering long positions, as this would signal a potential trend reversal.
For swing traders, the oversold Stochastic readings combined with INJ trading near Bollinger Band lows could present a contrarian opportunity. However, the bearish MACD suggests any bounce might be short-lived without broader market support.
Risk management becomes crucial at current levels. Stop-losses below the $11.91 support level make sense for new long positions, while profit targets should focus on the $15.73 Bollinger Band upper level rather than the distant $16.35 resistance.
The fundamental backdrop remains positive with the Ethernia Upgrade and ETF filing providing longer-term catalysts. However, short-term technical weakness suggests patience may be rewarded with better entry points below current levels.
Conclusion
INJ price faces near-term headwinds despite positive fundamental developments, with technical indicators suggesting continued weakness toward the $11.91 support level. While the Ethernia Upgrade and Cboe ETF filing provide strong long-term catalysts, traders should watch for a reclaim of the $13.01 pivot point to signal renewed bullish momentum in the next 24-48 hours.
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