• INJ gains 1.33% in 24 hours but posts a 15.31% weekly drop.
• The current price is $11.70, with trading volume down more than 30%.
• Technical charts highlight strong demand between $10 and $11.30.
• Community sentiment shows that 86% of investors remain bullish.

Injective (INJ) is showing resilience despite pressure from broader market conditions. Over the last 24 hours, the token has gained nearly 1.33%. However, the weekly performance remains weak, with losses of 15.31%.

At press time, Injective is trading at $11.71 with a market capitalization of $1.17 billion. Its 24-hour trading volume has fallen sharply by 30.15%, currently standing at $85.89 million. The dip in activity highlights cautious trading behavior as investors weigh potential reversals against ongoing downside risks. While short-term pressure persists, the price action suggests INJ is consolidating within a crucial zone that could decide its next move.

Also Read: Injective Price Alert: $13 Support Critical Before Potential $17 Breakout

Analysts Highlight INJ Support Zone

The daily chart for Injective reflects a decisive decline that pushed the token into a major demand zone between $10.00 and $11.30. Historically, this level has attracted strong buying interest, signaling that accumulation may already be underway. The price is now hovering at $11.71, showing early signs of stabilization within this grey-marked demand area.

Crypto analyst highlighted that Resistance is firmly positioned at $12.42, a level that once acted as support but has since flipped into resistance following recent weakness. A sustained breakout above this barrier could shift sentiment and open doors toward higher targets around $14.72. Such a move would confirm a recovery structure, possibly with reversal patterns like a double bottom or an inverse head and shoulders forming on the chart.

However, failure to hold above $11.00 risks deeper declines. Breakdown through $10.80 nullifies the bull argument and potentially takes the price to or through the $10.00 area. This makes appropriate management of risk a critical ingredient in trading through the area of interest.

Community Sentiment Favors Bulls

Despite the recent setbacks, community polls reflect broad-based optimism about the future direction of INJ. Of 56.2K votes, 86% of users registered a positive view, expecting a turnaround. This team mentality is reflected in an overwhelming green bar, a precursor of expectations of upside movement.

However, only 14% of voters take a bearish stance, reflecting fears of further downside. This disparity represents strong marketplace confidence in the long-term health of Injective despite near-term volatility. As long as the price stays in its region of demand, such optimism could be the foundation of resumed bull strength if technical confirmation accompanies investor expectations.

Also Read: Injective (INJ) price analysis: shows bullish breakout toward $18 targets