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
CFX 4-hour chart reaches a new high for the phase, with approximately 14% increase over 24 hours
Gate News: On March 15, market data shows that CFX reached a new phase high on the 4-hour K-line chart, with prices touching approximately 0.06282 USDT at their peak, representing a 24-hour gain of around 14%. Some community members believe this rally may be related to recent macroeconomic catalysts. Earlier, media outlets citing sources reported that Iran is considering allowing certain tankers to pass through the Strait of Hormuz on the condition that petroleum transport be settled in Chinese yuan. Related discussions have once again sparked market attention toward yuan stablecoins and cross-border payment narratives.
GateNews59m ago
After the network upgrade: What prospects await SOL?
The official approval of protocol SIMD-0266 aims to optimize computing efficiency on the Solana network by introducing p-tokens, simplifying transaction processing. This upgrade, set for April, has prompted increased buying activity and could lead to significant cost reductions and performance improvements.
TapChiBitcoin1h ago
Track FET's journey to the $0.24 milestone as the AI cryptocurrency sector records its most positive trading week in months
The cryptocurrency industry related to AI has recently recorded an impressive performance. According to data from CoinMarketCap, the total market capitalization of this sector has grown 16% in just the past week. Many leading tokens in this category have also achieved significant growth, attracting
TapChiBitcoin2h ago
DeFi enters a "winter of yields": liquidity stagnation, leverage contraction, and the disappearance of arbitrage opportunities
Since September 2025, the DeFi market has entered a "interest rate winter," with the annualized deposit yields of mainstream stablecoins dropping to lows, and supply and demand imbalances causing excess liquidity. As borrowing demand declines, stablecoin lending rates have also decreased, and the reduced risk appetite in the crypto market has led investors to shift toward more stable assets. Some protocols, such as Sky, offer stable returns through real-world assets, but the overall trend still indicates a period of adjustment and structural reform in DeFi.
区块客2h ago
Crypto Analyst and Expert Says Bull Market Is Confirmed as Bitcoin Survives Shakeout
Crypto analyst and expert says bull market is confirmed.
Bitcoin survives a shakeout nd mirrors 2022 price chart.
This shows a positive sign for BTC to set a new ATH price soon.
The crypto market seems to be heading into a strong recovery phase as the price of Bitcoin (BTC) recovers pr
CryptoNewsLand3h ago
Crypto Market Shows Gradual Growth As Top Assets Turn Green
The global crypto market saw a slight increase in total capitalization, while trading volume dropped significantly. Bitcoin and Ethereum prices rose modestly, with notable gains from altcoins like $DOGS, $PI, and $PEPE. DeFi TVL rose slightly, but NFT sales volume fell sharply. Key developments included new investments in gold-related tokens and Aave's launch of Aave Shield to reduce transfer slippage.
BlockChainReporter3h ago
