INJ price is currently testing a key breakout level after climbing above $15.50, with a potential 60% rally on the horizon as momentum builds ahead of Injective’s upcoming EVM mainnet launch.
On the daily chart, Injective is breaking out of an ascending triangle pattern, having cleared horizontal resistance at $15.50 and hitting an intraday high of $15.85 today. This upward move is supported by a bullish crossover between the 50-day SMA and the 20-day EMA, which remains in play. The 20-day EMA continues to provide dynamic support, successfully containing the recent pullback following last week’s failed breakout attempt.
Although there’s still a risk that this breakout could mimic the previous failed attempt—where price briefly pierced the ascending triangle’s resistance before retreating—technical indicators currently favor a sustained breakout scenario.
The RSI sits at 68, nearing overbought territory but still allowing room for a daily close above the triangle. Meanwhile, the MACD remains bullish, with the MACD line positioned above the signal line and the histogram showing strengthening upward momentum with rising green bars.
A confirmed daily close above $15.50 could pave the way for a potential rally toward $26, based on the measured move derived from the height of the ascending triangle pattern.
What’s driving INJ breakout?
The INJ price breakout is unfolding alongside significant fundamental developments for the project. Injective has just announced the successful internal deployment of its native EVM mainnet—an important milestone that comes less than a month after the EVM testnet went live on July 3. Once publicly launched, this upgrade will enable developers to deploy Ethereum-compatible decentralized applications directly on Injective’s Layer 1 blockchain.
In addition, Injective recently added SBET to its growing suite of on-chain products, a development that made headlines last Friday. SBET, the world’s first on-chain digital asset treasury, tokenizes SharpLink Gaming’s $1 billion ETH treasury into a tradable, yield-bearing asset built using Injective’s iAssets framework.
