INJ punches through the golden pocket, but $6.06 is the real bouncer at the door 🚪

Injective [INJ] rose 12.89% in 24 hours to $5.93, exiting a week-long consolidation range as trading activity accelerated. The token broke above the $5.76 level, a 61.80% Fibonacci retracement that had repeatedly rejected recovery attempts since a sharp correction wiped out the prior move from $4.77 to $7.35, a near-complete 100% retracement. INJ has since climbed to roughly $5.95, its highest price in ten days.

The advance was supported by a volume surge to 342.95K, the strongest reading since the correction began. According to AMBCrypto's prior analysis, the post-Vulcan decline was characterized as a "sell the news" correction rather than a structural trend breakdown. The current demand has carried INJ past the previously failed $5.76 support, turning that level from a ceiling into a battleground.

Momentum indicators have also strengthened. The relative strength index has reached 68.98, its highest level since the June peak, signaling continued buyer control but also approaching zones that preceded prior pullbacks. For most of the past week, INJ had been confined between the 78.6% Fibonacci support at $5.32 and the 61.8% level at $5.76.

The next technical test sits at the 50% Fibonacci level near $6.06, a zone where the late-May rally previously paused before extending higher. A sustained move above that level would expose $6.74, while a failure to hold $5.76 would shift attention back toward $5.32 and potentially the $4.77 low. Market participants are watching the $6.00–$6.06 range, where trapped holders from the prior rally may reintroduce supply. Volume remains the primary signal for whether demand can absorb that potential selling pressure.