INJ is approaching a significant trendline resistance after more than doubling from its cycle lows near $3. The cryptocurrency's trading volume surged over 72%, with prices maintaining gains as they approached the $7 mark. Exchange netflows have turned positive, indicating increased market participation as INJ attempts to break out from a prolonged downtrend. The trendline, which has been a barrier since late 2024, has seen multiple failed breakout attempts. However, recent price action shows a steady recovery, with INJ climbing above $6.50 and maintaining a constructive market structure. As of now, INJ is trading around $6.60, having gained nearly 10% in the past 24 hours, with a market cap exceeding $660 million. Exchange data reveals a shift in investor behavior, with significant inflows during May coinciding with rising prices. This increased activity suggests growing momentum as INJ challenges long-term resistance. Traders are closely watching for a confirmed breakout, which could lead to higher resistance levels.
INJ Eyes Breakout as Price Nears Key Resistance at $7
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