What to know:
- INJ price is trading below key resistance, keeping short-term bearish momentum intact.
- Recovery above $5.10 could trigger upside targets near $5.40 and $5.80.
- August BuyBack permanently removes over 33,000 INJ from circulation.
Injective (INJ) price remained under selling pressure as bearish technical indicators continued to weigh on short-term sentiment. Even so, the market structure still leaves room for a potential recovery if buyers regain momentum. Meanwhile, the latest community buyback strengthens the project’s deflationary approach and ecosystem participation.
At the time of writing, INJ is trading at $4.60, with a 24-hour trading volume of $60.49 million and a market capitalization of $453.43 million. Despite the signs of stability over the past 24 hours, the INJ price structure and buyback program suggest the potential for a bullish reversal in the sessions ahead.
Source: CoinMarketCap
Also Read: INJ Price Prediction: Can It Break Resistance and Surge Toward $22?
INJ Price Faces Critical Resistance Levels
According to TradingView, INJ price is extending its recent decline and slipping below the 20-day Bollinger Band midpoint near $5.00.
Consecutive bearish candles highlight weakening buying momentum, while repeated rejection around $4.95–$5.00 confirms sellers continue controlling the short-term price structure across the daily timeframe.
The Ichimoku Cloud reinforces a bearish outlook as INJ trades below both the Tenkan-sen and Kijun-sen, with the future cloud acting as overhead resistance between $4.95 and $5.10, according to the TradingView chart. Unless buyers reclaim this region, downside pressure may persist toward $4.35 and potentially $4.20 support.
Source: TradingView
The Bollinger Bands spread wide as the price approaches the lower border, which indicates that the volatility is on the rise, and the bears remain dominant.
A clear push above the $5.10 level can reverse the present downtrend and allow prices to rise towards $5.40 and $5.80, but a failure to break out will keep the bears in control.
Injective Launches August Community BuyBack
The data from Injective further highlighted that the network has already initiated a community buyback for August. This is said to be one of the largest token burns carried out by Injective thus far. More than 33,000 INJ tokens are expected to be taken out of circulation, contributing to the deflationary aspect of the network.
The protocol also recognizes the highly active members of the network, called Ninjas, who participate in the buyback scheme. Through the combination of token burns and rewards for participating users, Injective aims to increase community engagement and ecosystem activity.
Despite the bullish price predictions and community buyback program, the INJ price is still moving in a neutral territory. However, this move is also backed by the cautious environment in the crypto market as Bitcoin is moving in a sideways direction.
Also Read: INJ Price Holds Critical Support as Bullish Signals Point to $6.20 Recovery
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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