Injective price fell 4.22% over the past 24 hours to $4.57, underperforming the broader crypto market’s 0.75% decline, as selling pressure followed recent ETF-related updates.
Despite the pullback, analyst charts continue to map a higher-timeframe upside scenario, contingent on a confirmed breakout from the current downtrend. The setup leaves the Injective price caught between weakening near-term momentum and a conditional technical path that only activates if structure improves.
Injective ETF Update and On-Chain Activity
On December 18, Canary Capital filed a pre-effective amendment to its S-1 registration for a staked Injective ETF, clarifying custody and staking mechanics. The filing marked procedural progress toward a regulated, yield-bearing INJ ETF, but price action moved in the opposite direction.
Following the update, the Injective price dropped 5.6%, consistent with short-term profit-taking behavior rather than fresh demand.
Derivatives data supported the shift in sentiment. Futures open interest fell 5% after the announcement, indicating that traders reduced bullish exposure rather than adding leverage.
This aligns with a typical “sell-the-news” reaction, where early optimism is priced in ahead of regulatory milestones, only to unwind when filings move from narrative to process.
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On-chain data, however, paints a more positive medium-term picture. Nearly 1 million INJ tokens were staked over the past 30 days, suggesting a reduced liquid supply despite the falling price.
Separately, Artemis data ranked Injective among the top ten networks by net capital inflows over the past year, with $174 million entering the ecosystem. These inflows confirm that capital is engaging with the network, even as the spot price weakens.
Injective Price Outlook: Technical Signals and Conditional Upside
Technical conditions currently favor sellers. TradingView’s daily indicators show a “strong sell” bias, with 16 sell signals versus zero buy signals across major metrics. Moving averages from the 10-day through the 200-day remain firmly in sell territory, confirming sustained downside momentum. RSI near the mid-30s suggests weak demand rather than capitulation, while MACD remains negative, indicating that bearish momentum remains active.
From a structural perspective, analyst Lucky noted that INJ previously traded within descending channels before breaking lower, and the current price is hovering near historical demand zones.
His chart outlines a potential breakout structure only if price reclaims the upper boundary of the former channel, with upside scenarios mapped toward the $14–$26.7 range. The chartist believes the Injective coin will “run hard” in Q1.
However, those targets remain conditional and are not active signals under current momentum.
For now, the key breakout level sits above the descending resistance near the $6 region, where multiple moving averages converge. Failure to stabilize could expose the lower range near the $2.74 low highlighted on longer-term charts. Until momentum shifts, Injective coin price prediction remains constrained by technical weakness despite supportive on-chain trends.
