Injective (INJ) price has recorded two successive breakouts after prolonged consolidations.
Injective price has dropped by around 40% after a rejection from $53. With the demand zone holding as support, INJ could breakout to a new range high. A break and close below $25 would invalidate the bullish thesis. Injective price has recorded two successive breakouts after prolonged consolidations. If history repeats or rhymes and the INJ bulls show up, the AI-powered cryptocurrency token could breakout to a new range high.
With the Relative Strength Index defending against further downside, Injective price could recover. Key levels to beat in a northbound directional bias were the $40 and $45 levels. A strong break above these levels could see Injective price recapture the $53 range high. In a highly bullish case, INJ price could clear this blockade and record a new local top around the $55 or $60 threshold. Notably, the bullish thesis is contingent on the demand zone holding as support.
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