At press time, INJ price was trading at $9.00 with an intraday gain of 22% and its market capitalization was $900M. The injective (INJ) price has surged by 29% in the past 12 hours and the trading volume has increased by 100% to $286.77M. Just before this bullish momentum, the funding rate turned positive, which indicates that perpetuals started buying aggressively, which led to a bullish momentum.
Open interest was also increased by 44% during this momentum, which showcases that bulls are still long in this coin. The technical analysis suggests that the INJ price has surpassed a major resistance level of $8.27 with strength. INJ coin could remain bullish for the next few weeks and can extend to the $10 mark in the next few days.