Expert Predicts Brutal Injective Drop – But This Upgrade Could Flip Everything
Injective (INJ) is under pressure as technical analyst Ali Martinez flagged a confirmed breakout from an ascending triangle that may push the token down toward the $8 region.
His chart, shared with his followers on X, outlines a bearish path after losing its ascending trendline support.
At the time of writing, INJ trades at $12.77, down 2.57% over the past week with a market cap of $1.27 billion. Price action has struggled to hold above $13, with the latest 30-minute candlestick data showing persistent selling pressure. Momentum indicators reinforce the cautious outlook: RSI remains neutral around 53 while the MACD is flattening, suggesting limited short-term strength.
Technical Breakdown in Play
Martinez highlighted that the ascending triangle structure has failed, a development often followed by accelerated downside moves. His projection places the next key levels around $11 and $9.40, with a possible extension to $8 if selling intensifies.
Such a decline would mark a steep retracement from August highs near $16 and could realign Injective with broader altcoin weakness amid slowing liquidity inflows.
The Bullish Counterweight: Ethernia Upgrade
Despite the bearish technicals, Injective’s fundamentals are evolving rapidly. The network’s new Ethernia upgrade introduces Ethereum Virtual Machine (EVM) compatibility, allowing Solidity developers to deploy their apps on Injective’s high-performance L1. Early testnet reports already list 127 projects building, with DeFi protocols targeting arbitrage opportunities between Cosmos and Ethereum.
If traction continues, Injective could mirror the path Avalanche took in 2021, when its own EVM rollout triggered a 327% rally. Still, competition from established players like Polygon’s zkEVM and zkSync may limit Injective’s first-mover advantage unless it secures unique cross-chain liquidity.
Outlook
The short-term technical picture suggests caution, with Ali Martinez’s $8 target looming if momentum doesn’t recover. However, the Ethernia upgrade represents a long-term growth catalyst that could eventually flip sentiment. The key question now is whether Injective can attract enough developers and liquidity to offset bearish charts and turn its narrative bullish once again.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
