Analyst Logical has flagged a familiar trading structure on Injective's (INJ) weekly chart that preceded its two largest rallies. During the 2020-2021 cycle, INJ surged approximately 4,898%, followed by a subsequent 6,143% gain. Both moves came after prolonged accumulation near cycle lows followed by decisive breaks above descending trendlines.
The latest weekly chart suggests the pattern is forming again. INJ has been retracing from its all-time highs for years but now trades just above its long-term downtrend line, near the lower bound of its historical range. The token holds above key support, indicating gradual accumulation. Based on prior cycle durations and returns, participants see a potential target of $80 to $90. However, confirmation requires a clear weekly breakout with rising volume, analysts caution.
Strong Fundamentals: $34.4B Derivatives, Top-Ten L1 Profitability
Beyond technicals, the Injective ecosystem is expanding. Since January 2025, the protocol has handled roughly $34.4 billion in derivatives volume and $888 million in spot trades. Real-world asset (RWA) derivatives account for $6.8 billion, about one-fifth of total derivatives. The chain earned approximately $3.41 million in profit over the past year, ranking among the top ten most profitable Layer 1 blockchains per CoinGecko. Most profits go toward buybacks and burns: over 7.1 million INJ (worth $36.6 million) have been removed since 2021.
Protocol Updates: Native USDC, CCTP Integration, and Futures Listing
Development momentum may influence whether the breakout pattern follows its historical script. The addition of native USDC and Circle's Cross-Chain Transfer Protocol (CCTP) could boost settlement on the Cosmos ecosystem. In April, Bitnomial listed INJ futures, joining a growing lineup of exchange-traded products. More listings may follow as filings have been submitted. Analysts remind that while conditions appear constructive, price projections remain speculative in a highly volatile market.