- After a rough Q1 2025 where crypto markets tanked, Injective (INJ) has surged 25% over the past week, cutting its year-to-date losses to about 46%.
- A Bearish Cypher harmonic pattern is forming on INJ's daily chart, signaling potential bullish continuation toward a key reversal zone.
- The pattern targets point D at $14.59, representing a potential 62% upside from the current price of $10.39.
- INJ faces critical resistance at $12.81 (0.618 Fibonacci level), with MACD showing bullish crossover and higher lows indicating active buyer support.
Date: Sat, April 26, 2025 | 07:58 AM GMT
After a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of life. ETH is up 12% over the past week, and this bullish momentum is now spilling over into major Altcoins.
One such altcoin making a strong comeback is Injective (INJ). After experiencing a heavy sell-off, INJ has surged by nearly 25% over a week — cutting its year-to-date losses down to about 46%. And now, a powerful harmonic pattern is forming, hinting that the recovery may not be over just yet.
Harmonic Pattern Signals More Upside Move
The daily chart for INJ, viewed through Heikin Ashi candles, reveals a Bearish Cypher pattern — a harmonic formation that often signals a bullish continuation up to a key reversal zone.
The structure starts at point X, which marked a rejection from the February 24 high of $16.85. Price then plunged to point A, followed by a recovery bounce to point B, and another deep correction to point C, which bottomed around $6.33 on April 7 — a 62% decline from the X point.
Currently, INJ is working on the final leg, CD, with strong upward momentum pushing it higher.
If this pattern completes as expected, the next major target is point D, which lines up with the 78.6% Fibonacci retracement of the X to C move — sitting around $14.59. That marks a potential upside of about 62% from the current price of $10.39.
What’s Next for INJ?
Right now, INJ is approaching a critical resistance zone during this CD leg. The first hurdle is around $12.81, near the 0.618 Fibonacci level. If INJ can break and hold above this zone, it could open the door for a move toward the D point at $14.59.
The MACD is also flashing a bullish crossover, showing that buying momentum is picking up. Plus, the recent pattern of higher lows suggests that buyers are staying active, supporting a continuation of the uptrend.
If INJ holds above key support levels, the path toward $14.59 looks very possible over the next few weeks.
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