Ethereum News Today: Injective INJ Eyes 60% Rally as EVM Mainnet Nears Launch

Injective’s INJ token is showing signs of a potential 60% price rally as the project’s Ethereum Virtual Machine (EVM)-compatible mainnet nears its official launch. The token recently broke above a key resistance level at $15.50, sparking optimism among traders that INJ could move toward $26 in the near term. This technical breakout comes after the token had previously failed to hold a similar breakout, but now appears to be supported by bullish indicators such as a 20-day EMA crossing above the 50-day SMA. The RSI stands at 68, just below overbought territory, while the MACD remains positive, suggesting continued upward momentum [1].

The price movement coincides with significant on-chain developments. Injective recently completed the internal deployment of its EVM mainnet, building on the successful testnet launch earlier in the month. Once fully available to the public, the EVM will allow Ethereum-compatible applications to run natively on Injective’s Layer 1 blockchain, marking a major step toward broader adoption and interoperability. This milestone has been widely regarded as a catalyst for increased developer activity and user engagement [2].

In addition to infrastructure upgrades, Injective expanded its ecosystem through the launch of SBET, a tokenized form of SharpLink Gaming’s $1 billion Ethereum treasury. Built on Injective’s iAssets framework, SBET provides yield-generating opportunities on-chain, broadening the protocol’s use cases and attracting attention from both retail and institutional investors. The launch was among the most discussed developments in the ecosystem in recent weeks [1].

Despite the positive technical and on-chain signals, analysts caution that the broader market environment remains volatile. Macroeconomic uncertainty and the Federal Reserve’s upcoming interest rate decision could influence investor sentiment. While technical analysis suggests a potential move toward $26, this projection is not a guarantee and should be viewed as a technical target rather than a certainty [2].

Injective’s recent progress has drawn significant attention from the crypto community, with its developments frequently highlighted on social media and in crypto news. The token’s price performance has outpaced many altcoins, supported by growing adoption of EVM-compatible chains and the project’s strategic positioning in the evolving blockchain landscape. As the EVM mainnet moves closer to full deployment, market participants will be closely monitoring on-chain activity and price stability to gauge the next phase of growth [3].

Source:

[1] Injective (INJ) Eyes $30 After Breakout and Historic Staked ETF Filing – https://cryptoadventure.com/injective-inj-eyes-30-after-breakout-and-historic-staked-etf-filing

[2] Injective (INJ) is breaking out from an ascending triangle, with price pushing above $15.50 – https://www.instagram.com/p/DMsDcUev-ub/

[3] Injective (INJ) eyes 60% rally as EVM mainnet goes live – https://www.bitcoininsider.org/article/280973/bitcoin-real-estate-and-long-game-inside-elias-sacals-vision-murano