Injective Price Surges 20% Into Potential Double-Top Zone

Key Takeaways INJ gained about 20% in 24 hours. Most weekly progress arrived in one session. Solana access created a fresh project catalyst. Futures turnover ran well above spot activity. A double top remains only a possibility. INJ returns to the level that ended its May rally Injective traded near $7.11 on September 19 after rising approximately 20% over 24 hours and 21% over seven days, according to CoinMarketCap data. Its market capitalization reached roughly $710 million. The similarity between the two performance figures shows that most of the weekly gain arrived during the latest session. Rather than completing a gradual seven-day advance, INJ moved rapidly from the mid-$5 range and approached its highest price since late May. On the Coinbase INJ/USD daily chart, the rally reached approximately $7.14 by 06:30 UTC. The late-May peak sits slightly higher, around $7.30-$7.40. That zone stopped the previous advance and preceded a decline toward $4 in August. Returning to it after four months gives buyers a chance to establish a higher high, while another rejection would leave two prominent peaks at similar prices. Momentum supports the latest attempt but also shows how quickly the price has moved. Daily RSI reached approximately 68, just below the conventional overbought threshold of 70. INJ was also trading around 38% above its 50-day moving average near $5.14. A second peak would not complete the double top A double top is a bearish reversal pattern in which price reaches a similar high twice, with a substantial decline between the two attempts. Traders read the structure as evidence that buyers were unable to absorb the supply waiting at the first peak. Injective already has the first two components: the May high near $7.30-$7.40 and the August trough around $4.00-$4.10. The current rally is testing whether a second peak will form. A rejection near $7.30 would create the outline of the pattern, but confirmation would normally require a later break below the intervening trough, known as the neckline. With INJ still trading above $7, the neckline remains more than 40% below the market. Where the double-top setup currently stands Above $7.40 A confirmed breakout would clear the May peak and weaken the bearish setup. Rejected near $7.30 A second peak could form, but the pattern would remain unconfirmed. Below $4.10 Losing the August trough would complete the classical double-top structure. This leaves a wide range between an ordinary rejection and a confirmed reversal. INJ could pull back from $7.30, establish a higher low and make another breakout attempt without completing the bearish pattern. Solana access gave traders a new reason to watch INJ The price move followed Injective’s September 17 announcement that INJ had become available on Solana through Sunrise.