Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst

Injective (INJ), the native token of the Injective Network, is facing a crucial support level, according to market analyst Crypto Tony. Falling below the $19.30 price zone could be dangerous for investors, potentially leading to significant losses. Crypto Tony, who is an early investor of INJ himself, stated that he would consider pulling out of the market if the token fails to maintain this support level. Currently trading at around $24.70, INJ has experienced volatile price action in recent weeks, with a decline of 24.07% over the last month. However, positive developments on the Injective network, such as record-breaking daily transactions and the approval of the Injective 3.0 network upgrade, have fueled optimism among analysts. It is expected that these developments, coupled with deflationary measures to increase scarcity, could contribute to a positive performance in the upcoming crypto bull run. Nevertheless, investors are advised to exercise caution due to the inherent volatility of the cryptocurrency market.