Injective Eyes Breakout as Bitcoin Hits Key Fibonacci Target

Injective is gearing up for a big move as it nears $16.42 resistance with strong chart patterns backing a bullish breakout.

Bitcoin’s surge past $122K is giving Injective the perfect setup to rally after months of quiet sideways trading.

Falling trading volume and tightening price action suggest Injective could soon make a strong upward move if momentum holds.

Injective (INJ) is flashing a potential breakout as Bitcoin smashes through the 1.618 Fibonacci extension at $122,235. Traders are on high alert because INJ is showing an inverse head-and-shoulders pattern alongside a symmetrical triangle, signaling a bullish reversal.

As per Crypto analyst Cryptobusy, the neckline rests near $16.42, and a confirmed breakout could trigger a strong rally. This setup comes after months of consolidation, with the asset bouncing from a $6–$7 base. Bitcoin’s rally has created a bullish backdrop, which could help INJ accelerate if momentum holds.

Besides, the INJ symmetrical triangle has been forming since its sharp drop from over $30. The pattern shows converging trendlines, with higher lows meeting lower highs. This indicates reduced volatility and possible accumulation

Source: CryptoBusy

Moreover, trading volume has gradually declined, which often happens before explosive moves. The apex of the pattern is approaching, meaning a decisive breakout is likely very soon.

Technical Signals Align for Injective

Additionally, the inverse head-and-shoulders formation is reinforcing bullish sentiment. The neckline at $16.42 is the key barrier for buyers. If price pushes above it, traders could target significantly higher levels

Higher lows along the ascending support trendline show sustained buying interest. However, a drop below support could invalidate the bullish scenario, so risk management is critical.

Bitcoin’s surge is another factor to watch. It has rocketed from around $15,000 to over $120,000 in this cycle, delivering more than 700% gains. It has also cleared major Fibonacci levels, including the key $81,368 mark

Source: Trireme

Now, with $122,235 reached, traders expect either a short-term consolidation or continued upside. Institutional demand is outpacing new supply at a ratio of 5.6:1 this year, which keeps upward pressure strong.

The post Injective Eyes Breakout as Bitcoin Hits Key Fibonacci Target appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

INJ-7.38%
BTC-2.39%
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