• INJ broke out of a descending channel and confirmed a successful retest above $12.50.
• 24-hour trading volume surged by 18.3% to $164.01 million, indicating increased market activity.
• Current price stands at $12.88 with a 3.5% daily gain, pushing market cap to $1.28 billion.

Injective (INJ) price confirmed a breakout above a long-term bearish channel, then retested successfully in the $12.50 region. As of the latest update, INJ trades at $12.88, 3.5% higher over the past 24 hours. From the chart, price action broke decisively above the top trendline, retested the breakout level, then went higher. The setup indicates persistent strength after nearly two months of building a base.

INJ has also maintained its position above a key support zone marked between $11.50 and $12.00. This zone had acted as a congestion area through June and early July. The breakout from the descending wedge pattern became evident when the price closed above the upper resistance trendline. 

Trading Volume Climbs Alongside Price Action

Accompanying the breakout, the trading volume of INJ over 24 hours increased to $164.01 million, representing an 18.3% increase from the previous levels. This volume growth is concurrent with the upward price action, affirming increased participation by market participants. A spike in volume during a breakout and retest phase generally adds to its credibility.

At the same time, the fully diluted valuation (FDV) and market capitalization remain nearly aligned at $1.28 billion, showing little divergence between circulating and unlocked supply. Unlocked market cap stands slightly higher at $1.29 billion. This parity signals stable tokenomics as the asset gains attention amid technical developments.

Breakout Retest Confirms Support as Momentum Builds 

Previously acting as resistance, the upper boundary of the descending channel has now flipped into support. Price interaction around this level validated the breakout through a clean retest. The breakout took place just above the $12.50 area, which now holds structural significance.

The upward trajectory seen on the 12-hour chart shows the next potential zones of interest between $14.50 and $18.50. However, immediate focus remains on price stability above the confirmed breakout zone. The chart suggests momentum has shifted firmly to the upside, underpinned by growing volume and supportive structure.