Injective price surges as trading volume rises and buyers regain control

Injective has rallied more than 8% on October 16, reaching $9.35 as increased trading activity and renewed interest in the network’s institutional developments have supported its recovery. Summary Injective price surged nearly 30% in 24 hours, reaching $9.35 as trading activity picked up and buyers pushed INJ above its recent trading range. Gulf Labs joining Injective as an institutional validator and continued interest in proposed INJ investment products have supported market sentiment. Daily Ichimoku Cloud and DMI readings remained bullish, while rising four hour OBV showed stronger buying participation during the rally. The four hour CCI climbed above 200, suggesting that INJ could face some consolidation despite the positive momentum. A sustained move above $9.50 could put $10 and $10.50 in focus, while a pullback could bring support near $8.50 into play. According to TradingView data from Binance, INJ (INJ) was trading near $9.25 at approximately 12:33 PM IST, with daily trading volume at 2.29 million INJ. The token had recovered from an intraday low of $8.50, while the latest rally brought it above the trading range seen earlier in October. The price movement followed several...