Injectief has just announced a new income fund that is aimed at stimulating the growth of the ecosystem, just as the inj -is under pressure from a bearish card pattern in the short term.
On June 26 at the NYC Summit, Injective (INJ) announced The launch of Injective Revenue Fund, a new initiative that is designed to accelerate the development of ecosystem, to scale income from the chain and improve the deflatoire mechanics of Inj Token.
Although specific implementation data is unclear at the time of the press, the initiative will probably relate to the channeling of protocol income to ecosystem expansion, supporting builders and DAPPs that stimulate the growth of users and network activity, and increasing token burns fed by higher on-chain fees.
The development comes at a crucial moment, because Inj Price has recently been broken under an important level of support after confirming a Beararish main and shoulder pattern to the daily graph. The prize fell to an intraday depot of $ 8.95 on 22 June and tested a horizontal support zone that was established at the beginning of May, which now serves as a critical level in the short term.
Inj Price is now floating just below the broken neckline around $ 11.20, with momentum indicators – both RSI and MacD – that strengthen the Bearish for views, although the sales pressure seems to be slightly weakened. The token also fell under his 20-day EMA, which was indicated to the upward pressure in the short term, unless a recovery of the neckline occurs.
That said, the recent dip up to $ 8.95 was a higher low along the rising long-term trend line, which formed after the inj price was reversed at the beginning of April of $ 6.34, the lowest level since September 2023. This suggests that, despite the bearish Breakdown, injs will be technically in a wider upend.
If the price recovers the neckline and closes $ 11.30 – $ 12.00 with a strong volume, the bearish scenario weakens. That would be a pear trap and push bulls to test $ 14.30 again – the Swing High that marked the peak of the right shoulder.
