The post INJ Tests Lower Bollinger Band Support at $8.41 as Transaction Milestone Provides Bullish Catalyst appeared on BitcoinEthereumNews.com.

Darius Baruo
Oct 17, 2025 21:19

Injective price trades at $8.41 near technical support after reaching record transaction milestone, with Bitcoin’s $110K breakthrough providing market-wide momentum for recovery.

Quick Take • INJ trading at $8.41 (down 2.0% in 24h) • Record transaction milestone achieved signals growing network adoption • Price testing critical lower Bollinger Band support at $7.55 • Bitcoin’s surge past $110,000 lifting broader crypto sentiment Market Events Driving Injective Price Movement Injective Protocol’s announcement of surpassing a significant transaction milestone on October 15 has emerged as the primary bullish catalyst for INJ price action this week. The achievement indicates accelerating network activity and adoption, contributing to a 3% price increase following the announcement. This fundamental development demonstrates the protocol’s growing utility in the decentralized finance ecosystem. Bitcoin’s breakthrough past $110,000 on October 14 created a positive ripple effect across the cryptocurrency market, with INJ benefiting from the broader altcoin rally that delivered a 5% price boost. The milestone reinforced institutional confidence in digital assets and provided crucial momentum for risk-on positioning in crypto markets. The Federal Reserve’s decision to maintain interest rates on October 13, citing ongoing inflation concerns, had a neutral impact on INJ price. While the decision avoided additional pressure on risk assets, it also limited the potential for aggressive capital rotation into cryptocurrencies. INJ Technical Analysis: Testing Critical Support Zone Price Action Context INJ price currently trades significantly below all major moving averages, with the token positioned at $8.41 compared to the 20-day SMA at $11.14 and 50-day SMA at $12.40. The 24-hour trading range of $7.77 to $8.75 highlights the ongoing consolidation near technical support levels. Injective technical analysis reveals the price is testing the lower Bollinger Band at $7.55, representing a critical juncture for near-term…

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Filed under: News - @ October 18, 2025 4:27 pm