{"id":30654,"date":"2026-04-30T15:23:51","date_gmt":"2026-04-30T15:23:51","guid":{"rendered":"https:\/\/pettysackingforum.com\/can-injective-rebound-after-drop-to-3-40-amid-crypto-weakness-2\/"},"modified":"2026-04-30T15:23:51","modified_gmt":"2026-04-30T15:23:51","slug":"can-injective-rebound-after-drop-to-3-40-amid-crypto-weakness-2","status":"publish","type":"post","link":"https:\/\/pettysackingforum.com\/?p=30654","title":{"rendered":"Can Injective rebound after drop to $3.40 amid crypto weakness?"},"content":{"rendered":"
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Injective price is down nearly 5% in the past 24 hours, extending recent losses to $3.40 after bulls ran into resistance at the $4.00 mark.<\/p>\n

The INJ token also declined amid a broader market downturn following the Federal Reserve’s rate decision. <\/p>\n

Investors concerned about the ongoing blockade of the Strait of Hormuz and surging oil prices also pushed Bitcoin lower.<\/p>\n

Injective dropped alongside BTC.<\/p>\n

Injective dips after mainnet upgrade<\/h2>\n

Injective Protocol recently hit a milestone with the activation of its IIP-632 mainnet upgrade, a governance-approved initiative designed to sharpen network efficiency.<\/p>\n

Market optimism ahead of the rollout propelled INJ to a peak of $4.00, fueled by expectations of bolstered technical performance, refined onchain modules, and expanded $INJ token buyback programs.<\/p>\n

The upbeat sentiment looks to be fading fast amid profit-taking by short-term holders. <\/p>\n

Also pushing bulls into the woods are macroeconomic headwinds, with cryptocurrencies retreating alongside other risk assets.<\/p>\n

Bitcoin’s plunge followed the Fed’s decision to maintain interest rates unchanged, and Chair Jerome Powell’s announcement that he will stay on as a Fed member after his tenure ends in May.<\/p>\n

President Donald Trump’s remarks endorsing an intensified blockade of the Strait of Hormuz also ignited fears of global energy disruptions. <\/p>\n

The news drove oil prices higher and soured risk assets, with BTC’s dip cascading weakness into altcoins and crypto stocks.<\/p>\n

More than $560 million in crypto positions were liquidated, with the metric\u2019s 24-hour reading indicating longs at $368 million and shorts at $192 million.<\/p>\n

According to Coinglass data, the pain hit more than 120,000 traders.<\/p>\n

INJ mirrored this performance, testing lows around $3.40 amid subdued trading.<\/p>\n

Injective price outlook<\/h2>\n

Network growth, helped by the upgrade’s fundamentals, suggests the long-term outlook for INJ remains intact.<\/p>\n

However, near-term sentiment hinges on how the market reacts to macro and geopolitical pressures.<\/p>\n

From a technical standpoint, INJ’s chart reveals a slight bearish tilt. <\/p>\n

The Relative Strength Index (RSI) at 57 and downsloping hints at a possible short-term drop.<\/p>\n

Meanwhile, the Moving Average Convergence Divergence (MACD) signals a bearish crossover, with the histogram pointing to increased weakness.<\/p>\n

Injective price chart<\/a> by TradingView<\/figcaption><\/figure>\n

The token now hovers near the $3.40 support zone, a level reinforced by recent volume clusters. <\/p>\n

Holding this threshold could foster consolidation, paving the way for a rebound toward $4.00.<\/p>\n

Bulls could target further gains if Bitcoin stabilizes and sees a notable uptick above $75,000 – the benchmark digital asset currently hovers around $76,075, down 1.2% in the past 24 hours. <\/p>\n

Most coins show similar moves during early trading on Thursday.<\/p>\n

Conversely, a decisive break below $3.30 and the 50-day exponential moving average ($3.25) amid elevated sell volume could accelerate declines toward the $2.75 demand area. <\/p>\n

The area marks March lows and could allow sellers to target lower support levels.<\/p>\n

The post Can Injective rebound after drop to $3.40 amid crypto weakness?<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Injective price is down nearly 5% in the past 24 hours, extending recent losses to $3.40 after bulls ran into resistance at the $4.00 mark. The INJ token also declined amid a broader market downturn following the Federal Reserve’s rate decision. Investors concerned about the ongoing blockade of the Strait of Hormuz and surging oil […]<\/p>\n","protected":false},"author":1,"featured_media":30655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-30654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts\/30654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30654"}],"version-history":[{"count":0,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/posts\/30654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=\/wp\/v2\/media\/30655"}],"wp:attachment":[{"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pettysackingforum.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}