Injective (INJ) Price Breaks Out of Ascending Triangle; $8 Risk Looms

Injective (INJ) has broken out of an ascending triangle, signaling potential downside toward the $8 mark. This move is based on market analysis, and traders are now closely watching Fibonacci retracement levels for potential support zones. While the breakout invalidates the previous bullish structure, the 0.5 retracement level at $10.52 may offer a temporary buying opportunity before further decline. A deeper drop toward $8.29 at 0.786 would signal a bearish trend.