Date: Thu, April 10, 2025 | 06:15 PM GMT
The cryptocurrency market has been going through a rough patch. Ethereum (ETH), the second-largest crypto by market cap, recorded its worst Q1 performance since 2018 — crashing by 54% in just this year. This steep correction has dragged most altcoins down with it, and Injective (INJ) hasn’t been spared either.
Since the start of 2025, INJ has shed above of 60% of its value. While this may seem discouraging at first glance, a deeper look into the chart reveals something potentially bullish: INJ appears to be repeating a historical pattern that previously led to an explosive rally.
Is Injective (INJ) Repeating Its Historical Pattern?
Looking at the weekly Heikin Ashi chart, INJ seems to be forming a falling wedge pattern — a historically bullish setup. This isn’t the first time we’ve seen this on INJ.
- Back in 2021, INJ rallied over 1,000%, then entered a prolonged correction phase, eventually forming a falling wedge.
- That wedge broke out in early 2023, triggering a fresh bull run.
- Fast forward to 2024, INJ saw another massive move — rallying over 400%, followed by the current downtrend which once again resembles that classic wedge pattern.
Now, INJ is trading around $6–$10, which is right within the key support and previous accumulation zone that held strong during the 2022 cycle. This is where the last bottom formed — and it could be happening again.
The MACD on the weekly timeframe is deeply in the red — just like it was during the 2022 bottom.
What’s Next?
Of course, no two cycles are identical. But as the saying goes—history doesn’t repeat itself, it rhymes. And right now, INJ’s chart is humming a familiar tune.
That said, caution is key. For any real trend reversal to be confirmed, INJ needs to reclaim its 50-week moving average.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.