Date: Sat, April 26, 2025 | 07:58 AM GMT
After a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of life. ETH is up 12% over the past week, and this bullish momentum is now spilling over into major Altcoins .
One such altcoin making a strong comeback is Injective (INJ). After experiencing a heavy sell-off, INJ has surged by nearly 25% over a week — cutting its year-to-date losses down to about 46%. And now, a powerful harmonic pattern is forming, hinting that the recovery may not be over just yet.
Source: Coinmarketcap
Harmonic Pattern Signals More Upside Move
The daily chart for INJ, viewed through Heikin Ashi candles, reveals a Bearish Cypher pattern — a harmonic formation that often signals a bullish continuation up to a key reversal zone.
The structure starts at point X, which marked a rejection from the February 24 high of $16.85. Price then plunged to point A, followed by a recovery bounce to point B, and another deep correction to point C, which bottomed around $6.33 on April 7 — a 62% decline from the X point.
Injective (INJ) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, INJ is working on the final leg, CD, with strong upward momentum pushing it higher.
If this pattern completes as expected, the next major target is point D, which lines up with the 78.6% Fibonacci retracement of the X to C move — sitting around $14.59. That marks a potential upside of about 62% from the current price of $10.39.
What’s Next for INJ?
Right now, INJ is approaching a critical resistance zone during this CD leg. The first hurdle is around $12.81, near the 0.618 Fibonacci level. If INJ can break and hold above this zone, it could open the door for a move toward the D point at $14.59.
The MACD is also flashing a bullish crossover, showing that buying momentum is picking up. Plus, the recent pattern of higher lows suggests that buyers are staying active, supporting a continuation of the uptrend.
If INJ holds above key support levels, the path toward $14.59 looks very possible over the next few weeks.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before investing in cryptocurrencies.
