Date: Tue, July 15, 2025 | 10:10 AM GMT
The cryptocurrency market has entered historic territory, with Bitcoin (BTC) reaching a new all-time high of $123,000. Ethereum (ETH) has followed suit with a 16% weekly gain. Riding this wave of bullish momentum, altcoins like Injective (INJ) are also gaining attention.
INJ has jumped 16% in the last seven days, boosting its 90-day performance to an impressive 59%. But what’s capturing traders’ interest now is a textbook harmonic pattern developing on INJ’s daily chart — hinting at a possible extended move higher.
Harmonic Pattern Hints at Bullish Continuation
A closer analysis of the chart reveals the formation of a bearish ABCD harmonic pattern — a powerful technical setup that often predicts trend continuations or reversals at key Fibonacci zones.
The pattern began forming in April, starting from point A near $6.30, followed by a strong rally to point B around $13.80. After this surge, INJ retraced to point C, landing at approximately $8.98 by late June. From there, the token has steadily climbed and is now trading near $12.24 — just shy of the 200-day moving average, currently around $13.21.
This final leg — from C to D — is underway and aligns with the typical ABCD structure shown in classic harmonic frameworks, with a potential target at the 1.41 Fibonacci extension, near $18.10.
What’s Next for INJ?
Should INJ successfully break above the critical 200-day moving average, it could open the door for a further 48% upside toward the projected target at $18.10 D. This would complete the ABCD pattern and likely signal a potential reversal or consolidation phase afterward, as traders may take profits.
It’s also worth noting that some short-term pullbacks might occur before the pattern completes, especially as price tests overhead resistance levels.
Disclaimer: This article is for informational purposes only and reflects the writer’s personal views. It should not be considered financial advice. Always conduct your own research before investing in cryptocurrencies.
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