The Injective price witnessed a massive breakout over the past 24 hours and surged nearly 13%, reclaiming the $5 range. The rally comes amid rising market participation, increasing open interest, and growing bullish momentum across the derivatives market. After weeks of gradual recovery, the crypto is approaching a decisive resistance zone that could determine the next phase of the trend.
The daily chart suggests the token may have confirmed a rounded-bottom recovery pattern after rebounding from the April lows. The latest breakout candle has pushed the price above a crucial resistance level around $5.15. Besides, the volume and open interest have also surged sharply during the move.
The rounded-bottom formation reflects a gradual shift from accumulation to expansion, which is often considered an early bullish reversal signal. At the same time, the sharp rise in open interest suggests fresh leveraged positions are entering the market. Another important signal is the negative funding rate despite the strong price surge. This indicates many traders are still positioned short, increasing the possibility of a short squeeze if the bullish momentum continues.
The breakout above the $5.15 resistance now places INJ near a major supply zone between $6 and $6.20, which previously acted as a strong rejection region during late 2025.
Key Levels to Watch
A sustained move above $5.50 could accelerate the rally toward the $6 region, while holding above $5.15 may keep the short-term bullish structure intact.
The latest breakout suggests the Injective (INJ) price may be entering a stronger bullish expansion phase after months of consolidation and recovery. If the bulls maintain momentum above $5.15, the price could continue climbing toward the major resistance zone near $6 and potentially higher in the coming sessions. However, because the rally has turned highly aggressive in a short period, traders may also watch for increased volatility and short-term profit-taking near the overhead resistance levels.
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