Injective (INJ) trades near $3 after 76% yearly drop, testing key support as RSI signals oversold conditions.
Injective (INJ) is trading near $3.27 on the weekly chart, following an extended decline from its 2024 highs above $40.
Market data shows the asset remains under pressure, while technical indicators suggest oversold conditions.
Weekly Price Structure Remains Bearish
The weekly INJ/USDT chart shows a clear pattern of lower highs and lower lows since early 2024.
A major top formed above $40, and price has trended downward since then. The broader structure remains bearish.
Price is now testing the $3.00 level, which serves as a psychological and recent reaction zone.
Below that, support levels are seen near $2.50 and $2.00. These areas previously acted as consolidation bases.
On the upside, resistance is visible near $5.00, followed by $8.00 to $10.00. A weekly close above $5 would mark the first structural improvement. Until then, the trend remains intact.
RSI and MACD Show Oversold Conditions
The weekly Relative Strength Index is near 29 to 32. This places INJ in oversold territory. However, during strong downtrends, RSI can remain low for extended periods.
A move above 40 on the weekly RSI would signal improving momentum. At present, no confirmed bullish divergence is visible. Price continues to respect the broader downward structure.
INJ tests critical $3 support amid persistent bearish momentum. Source: TradingView
The MACD indicator remains below the zero line. The histogram shows weakening bearish momentum, but no bullish crossover has formed.
This suggests downside pressure may be slowing, though confirmation is absent.
**Related Reading: **Bullish: New Injective Governance Vote Could Slash $INJ Supply By Half
Volume, Performance Metrics and DeFi Context
Trading volume has declined during the downtrend. There is no visible accumulation spike on the weekly chart.
A sustained reversal would require a strong green candle with higher volume.
Performance data shows short-term gains but longer-term weakness. INJ is up 4.30% over 24 hours and 6.70% over seven days.
However, it remains down 33.77% over 30 days and 76.94% over one year.
INJ shows mixed timeframes with short-term gains but deep longer-term drawdowns – Source: Coinglass data.
INJ shows mixed timeframes with short-term gains but deep longer-term drawdowns — Source: Coinglass data.
Total Value Locked across DeFi stands near $94.3 billion, down 1.79% in 24 hours. This remains below the 2021 peak near $180 billion, yet above 2022 lows.
While DeFi capital has stabilized, INJ price action has not confirmed accumulation.
Injective now trades at a critical level near $3.00. A sustained defense could lead to range formation between $3 and $5.
A breakdown below support may expose lower historical zones near $2.50 and $2.00.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Shiba Inu Breaks Support Amid Falling Volume and Market Pressure
Key Insights:
Shiba Inu dropped below a critical price level as declining volume and heavy liquidations reflected weakening trader confidence across the broader crypto market environment.
Falling trading activity signaled reduced participation, which often limits recovery momentum and
CryptoNewsLand23m ago
Solana Charts Flash SMC Distribution Warning at $74 and $50
_Solana SMC distribution setup targets $74.11 and $50.18 as two analysts flag a deepening correction with $70 as the critical line_
Two crypto analysts are flagging the same bearish structure on Solana’s chart. The timing is not coincidental. The levels they are pointing to, $74.11 and $50.18
LiveBTCNews1h ago
Grayness Report: Zcash is "Severely Undervalued" by the Market! AI Monitoring Boosts Privacy Demand, and ZEC Could Become the Preferred Choice for Digital Cash
An asset management firm’s Grayscale report points out that the value of financial privacy is being underestimated under the influence of AI technology, and that Zcash (ZEC), with its zero-knowledge proof technology, has become a key alternative in digital finance. Although its current market share is only 0.3%, future privacy demand is expected to bring significant upside potential. However, regulatory risks and technical challenges still need to be taken into account.
動區BlockTempo1h ago
3 Crypto Coins With 40%+ Upside—Are You In or Out?
Avalanche shows strong accumulation and network growth, signaling potential breakout above resistance.
Bitcoin Cash gains momentum with rising transactions and higher lows, supporting bullish continuation.
Cardano builds stability through development, with consolidation hinting at a
CryptoNewsLand1h ago
BTC 15-minute drop of 0.54%: Weak liquidity and whale sell pressure jointly drive the decline
2026-03-30 14:15 to 14:30 (UTC) saw a significant abnormal move in the Bitcoin spot market. The short-term return rate was -0.54%, the price ranged from 67249.9 to 67698.6 USDT, and the amplitude reached 0.66%. Overall, trading volume and depth remain at extremely low levels within the year, which has increased volatility. Market attention has risen, and investors’ risk-avoidance sentiment has warmed.
The main drivers of this abnormal move are fragile liquidity and concentrated whale fund selling. Specifically, spot trading volume has fallen to its lowest level since November 2023, and the 1% market depth has broken below 0.5%, indicating a significant reduction in market liquidity and increased risk of further sharp declines.
GateNews1h ago
Grayscale: Zcash’s Upside Potential Depends on the Repricing of Financial Privacy in an AI-Driven World
Grayscale analyst Michael Zhao’s report notes that AI monitoring and on-chain transparency could make privacy features a core financial requirement, yet the crypto market’s valuation of this is currently too low. Zcash’s shielded transactions show that privacy demand is real, but its market share is only about 0.3%. If market expectations shift, ZEC could have a much larger upside potential; the current quote is about $224.80.
GateNews1h ago
