As of November 7, 2025, Injective (INJ) is trading at $6.35, up 4% in the last 24 hours but down 45% monthly amid broader market weakness, with Bitcoin (BTC) at $108,000 and Ethereum (ETH) at $3,800, per CoinMarketCap. On the 4-hour chart, INJ has bounced from support at $5.95, forming a descending broadening wedge, a bullish reversal pattern characterized by diverging trendlines with lower highs and lower lows, often resolving upward in 54% of cases, per Chart Guys. This bounce from the wedge’s lower boundary, now holding as support, suggests building buyer pressure, with the pattern intact since early 2025, per TradingView.
The descending broadening wedge develops in downtrends, with expanding swings indicating volatility before a potential reversal, per The Pattern Site. INJ rejected resistance at $8.125 but found support at $5.95, aligning with the wedge’s lower trendline, per CoinsProbe. Volume spiked during the bounce, supporting the pattern’s validity, which requires at least two touches on each trendline, per CentralCharts. Historical data shows 75% of such wedges act as reversal signals, with the midline angled downward confirming the bearish bias until breakout, per Forexop. RSI at 58 on the 4-hour chart indicates neutral momentum, not overbought, allowing room for upside, per.
If INJ holds above $5.95, analysts eye a breakout above $7.04 resistance, targeting the 200-day moving average at $9.07, per CoinsProbe and CoinCodex. A confirmed upward resolution could yield a 20–30% rally, with ultimate targets at $8.58 weekly and $8.87 by November 10, per CoinCodex. However, a breakdown below $5.95 invalidates the pattern, exposing $2.23 lows and shifting to bearish control, per TradingView. X sentiment leans bullish, with @JoshuaAbel68 noting a falling wedge on the 3-day frame targeting $24–$45, and @WHALES_CRYPTOt highlighting support defense, per.
INJ’s resilience amid BTC and ETH dips reflects its DeFi focus, with $100M+ daily volume and $619M market cap ranking it #86, per CoinGecko. Institutional interest, like Pineapple Financial’s INJ buys and 21Shares’ ETF filing, supports long-term yield, per. Monitor $7.04 for confirmation and set stop-losses below $5.95, or diversify into USDC for stability, per TradingView. Follow @injective for updates. With 54% historical upside odds, INJ could lead altcoin recovery if BTC stabilizes at $108K, per.
