INJ On the 8H timeframe, INJ is clearly respecting a large descending channel, printing consistent lower highs and lower lows. The broader structure remains bearish until a confirmed breakout above the channel resistance.
🔎 Current Structure
After a strong sell off into the 2.74 – 2.90 support zone, price formed a short term ascending mini structure near the channel’s lower boundary. This looks like an early compression phase, suggesting buyers are attempting to step in.
We are now trading around 3.1 level, right below local structure resistance.
📌 Key Levels
• 2.74 → Major support / recent reaction low
• 2.90 – 3.00 → Short term demand zone
• 3.60 – 4.40 → Mid channel resistance area
• 5.90 → Major horizontal resistance
• Upper channel boundary near 8.00 – 9.00 → Macro breakout target
🧠 Possible Scenarios
🟢 Bullish Case
If price breaks above the short term structure and reclaims the channel midline, continuation toward 4.40 becomes likely. A confirmed breakout above the main channel would shift the entire trend structure and open room toward 8+ region.
🔴 Bearish Case
Failure to hold above 2.90 could lead to another sweep of 2.74 and potentially continuation toward the lower channel extension.
For now, this is an early reversal attempt inside a bearish macro channel. Confirmation only comes with a clean break and acceptance above the descending resistance.
@Injective $INJ #INJCoin #inj