8 hours ago
15
Cryptocurrency enthusiasts remain on the edge while watching for altcoin season signs.
Ethereum has started outperforming Bitcoin as it approaches the sought-after $4,000.
Meanwhile, attention has shifted to large-cap, where Injective’s INJ looks ripe for a solid breakout after attaining a key technical milestone.
The project has successfully launched its internal EVM, positioning itself to welcome a new wave of Ethereum-compatible developers and applications.
Meanwhile, an analyst has spotted an inverse head-and-shoulders setup.
The bullish pattern hints at an over 60% surge from the current price to $41.
Injective attains internal EVM
This achievement is a massive leap for the INJ network.
🚨BREAKING NEWS: The Injective EVM mainnet has been successfully achieved internally.
It brings the platform closer to interoperability, connecting Injective’s infrastructure and performance with Ethereum developers.
Individuals can port over top Ether-based DeFi apps.
Creators can leverage AI to create launch financial products utilizing smart contracts.
Injective has integrated artificial intelligence over the past months, even launching a tokenized index for stocks and AI coins.
The internal EVM will enrich INJ’s developer community and boost user activity and on-chain volume.
Recently, Injective on-chain transactions surpassed 2 billion, showcasing magnified user activity.
The altcoin has grabbed attention with such developments, with analysts projecting the next price move.
Meanwhile, Injective has matured this cycle, quietly growing from a low-profile decentralized exchange into a DeFi-AI giant.
It has reinvented itself with advanced integrations and artificial intelligence.
Injective collaborated with Aethir to launch the first tokenized GPU platform in late 2024.
Also, its Cosmos SDK-powered lightning-fast Layer1 has attracted strategic collaborations with web3 pioneers and web2 tech experts.
Traditional finance custody providers like 21Shares and Rakkar Digital are supporting the INJ ecosystem.
From a mere DEX last cycle, Injective has transformed to power a growing ecosystem of DeFi applications, including trading, prediction markets, and derivatives.
With the EVM mainnet launch, Ethereum-based developers can deploy onto Injective.
That bolsters the blockchain’s user base, total-value locked (TVL), and reach.
Additional utility increases the digital asset’s appeal.
What the charts are saying
Amidst the bullish ecosystem updates, analyst Crypto Patel has observed a promising technical setup.
The token is printing an inverse head-and-shoulders setup, signaling a potential massive price reversal on the horizon.
INJ trades at $15.71 as its sentiment shifts to bullish.
A daily closing above $16.20 would confirm the pattern and potentially catalyze significant rallies to $41.
Source: Crypto Patel on XThat would mean an approximately 63% gain from INJ’s current market price.
Injective is in its pre-breakout compression phase, where prices coil before massive moves.
Meanwhile, a break past $16.20 remains paramount for INJ’s rally.
Other crucial price levels to watch before hitting the target are $26.36 and $34.32.
Nevertheless, a sudden selling wave will postpone the anticipated surge, with a breach of the support barrier at $12 invalidating the bullish pattern.
The post Injective (INJ) eyes 60% rally as EVM mainnet goes live appeared first on Invezz
English (US) ·