Injective (INJ) Near $14 Mirrors 40X Surge Pattern as Breakout Looms

Injective (INJ) has returned to a price level that mirrors a critical juncture in its prior 40x surge, according to technical analysis by market commentator Crypto Patel. The cryptocurrency’s current chart pattern closely resembles the structure observed before its previous explosive rally, which saw the price rise from near $1 to over $50. Analysts are now drawing parallels between the historical and present cycles, with some suggesting a similar trajectory could unfold if the pattern holds [1].

The price action over the last cycle followed a distinct three-phase model. Initially, INJ surged from around $0.65 to $25, a 4,000% increase, before collapsing by 95% to the $1.12 level. This was followed by a second wave that pushed the price to $53, marking a 53x return from its post-correction low [1]. The current cycle appears to be retracing this structure: after a recent high near $53, the price corrected 87% to $6.34, now consolidating within a similar accumulation zone. Crypto Patel notes that this consolidation below a descending resistance line mirrors the pre-breakout setup from 2021, suggesting a potential repeat of the pattern [1].

A critical factor in the analysis is the breakout threshold. The resistance level currently sits above $17, and a confirmed break above this line with strong volume could trigger a third leg of the rally, potentially targeting $200—a move exceeding 2,000% from current levels [1]. This projection hinges on the assumption that the historical pattern will repeat, with the support zone at $6.34 continuing to function as a base for accumulation, as it did previously.

The current price of INJ hovers near $14, within the green support zone highlighted in the analysis. The descending resistance line that historically capped price action is again acting as a ceiling, creating a high-probability setup for a directional breakout. If the pattern holds, the next move could mirror the previous 40x surge, though analysts caution that past performance does not guarantee future results [1].

Crypto Patel’s analysis emphasizes the importance of volume and price confirmation during the breakout phase. A clean break above $17 without significant retracement would validate the bullish case, while a failure to hold above this level could signal a prolonged consolidation or further decline. Traders are advised to monitor on-chain metrics and broader market sentiment for additional signals, as the cryptocurrency market’s high volatility often disrupts technical setups [1].

The similarities between the historical and current cycles have sparked renewed interest among traders, particularly after many missed the prior 40x opportunity. The fractal pattern—characterized by steep rallies, sharp corrections, and extended accumulation phases—has proven resilient in past cycles, raising questions about its potential recurrence. However, analysts stress that while the setup is compelling, it remains speculative and subject to macroeconomic and regulatory risks that could alter the trajectory [1].

Source: [1] [Injective (INJ) Is Back at the Level Where It Did 40X: Same Setup] [https://coinmarketcap.com/community/articles/6884ee953730bd0cd9d4a076/]