Injective leads AI token surge with 12% rise – Is $17 possible for INJ?
INJ, on the daily time frame, completed a clean inverse heads and shoulders pattern.
Injective's $2B annualized trading volume for iAssets could accelerate the onboarding of tokenized stocks & RWAs.
The altcoins are back to performance with most AI tokens, including Injective [INJ] and Artificial Superintelligence Alliance [FET] among others, gaining ground after potentially finishing the correction.
Price analysis and market sentiment
Injective completed an inverse head and shoulders pattern on the daily timeframe, and a breakout verified at the $11.16 level.
Once it settled above the neckline, INJ made a big move up, rising 12% in just a day. The volume followed with an 87% daily rise.
The price crossed both the 50-day EMA at $10.81 and the 100-day SMA at $11.16 and continued rising, showing momentum was bullish, and the trend could keep going.
As trading increased on the breakout, it proved the structure was strong after the crossover.
Should Injective's price remain supported at the neckline and by both averages, it could continue moving upwards and test the $16.50 to $17.00 level in the short run.
Source: TradingView
However, a failure to hold above $15.00 may trigger a slide back to $12.80—or, in a deeper retracement, to the 100-day SMA near $11.16.
If that level breaks, the bullish setup would likely invalidate, opening room for downside risk.
At the same time, statistics showed over 95% of respondents thought JasmyCoin [JASMY] and Injective were poised for growth.
Due to the strong investor conviction, INJ was probably doing well following ongoing media appearances, keeping the project in the limelight.
Read More How FTX can impact ETH's future price movements
There were also sentiments of 94.90%, 94.70% and 93.40% for Jupiter [JUP], Virtuals Protocol [VIRTUAL] and Cardano [ADA], respectively.
With both INJ's high ratings and the momentum, there was a real chance the protocol's ecosystem could grow over the long term.
Injective's annualized volume for iAssets
The media presence also helped. Ongoing exposure—including Eric Chen's recent appearance on CNBC—keeps INJ in the spotlight, boosting investor confidence.
On top of price action, Injective recently hit a $2 billion annualized trading volume for its tokenized assets (iAssets).
These include tokenized stocks and real-world assets (RWAs), key growth areas that are drawing both institutional and retail interest.
Source: X
While publicity from the DAO can lift the project's credibility, INJ's price responsiveness would rely on continuous platform implementation and changes in the market.
An increase in institutional interest could bring upside movement to INJ. However, future growth needed the network to attract users and for the overall market to improve.
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