July 23, 2026 Injective (INJ) is showing resilience around key support levels despite a slight dip in daily trading.
The token currently trades near $5.16 with a 24-hour volume of almost $63 million and a market cap surpassing $513 million. While INJ fell 2% in the last day, the underlying price action hints at a possible turnaround soon.
Crypto analyst Abundance points out that INJ bounced off a $4.45 low and is carving out higher highs and lows on the daily charts. The price is comfortably sitting above its rising moving average, with support firming around $5.05 to $5.10, fueling bullish momentum.
The recent rally hit a wall between $5.30 and $5.40, triggering a brief pullback. However, the appearance of small-bodied candles suggests the market is consolidating rather than reversing sharply.
If the $5.05 support holds, investors may see another push toward $5.84, which stands as the next strong resistance level.
Breaking past $5.84 could pave the way for a test of the $6.50 mark, a critical level for bulls. Meanwhile, a drop below $5.05 might open doors to lower prices near $4.85, $4.60, and potentially $4.45.
Adding fuel to the momentum, Coinbase has integrated native INJ, making it easier for its users to trade and directly access the Injective ecosystem. This move removes previous hurdles tied to transferring INJ from exchanges into the protocol.
The Coinbase listing is a big deal since it allows smooth deposits and withdrawals and increases liquidity by connecting the largest U.S. crypto exchange to the Injective platform. This enhanced accessibility is expected to grow participation and market visibility for INJ.
Despite these positive developments, INJ’s price is still facing downward pressure, mirroring broader crypto market trends as Bitcoin has started slipping recently.
Injective’s improved technical structure and Coinbase's support could make it a token to watch in the coming sessions.
This information is for educational purposes and does not constitute financial advice.
