Injective Community Approves 99.89% Proposal to Accelerate INJ Supply Reduction
- Proposal Approval: The Injective community overwhelmingly approved proposal IIP-617 with 99.89% support, significantly accelerating the reduction of INJ supply, which is expected to enhance investor confidence in the asset's deflationary potential.
- Supply Mechanism Adjustment: The new proposal drastically cuts future INJ issuance while maintaining existing burn and buyback programs, ensuring a continued tightening of market supply and increasing INJ's appeal as a deflationary asset.
- Cautious Market Response: Despite the proposal's aim to drive deflation, market participants remain cautious, indicating that concerns over macroeconomic sentiment may outweigh the focus on long-term issuance mechanics.
- Historical Context: This proposal builds on the earlier IIP-392 passed in 2024, which linked supply dynamics to staking participation, demonstrating Injective's ongoing commitment to strengthening its deflationary strategy.
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Technical Analysis for INJ
Technical Sentiment Analysis for Injective (INJ) As of , Injective (INJ) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for INJ stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, INJ is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Injective (INJ) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.244 | 1.947 | 2.704 | 3.407 | 4.164 | 4.867 | 5.624 |
| Fibonacci | 1.947 | 2.505 | 2.849 | 3.407 | 3.965 | 4.309 | 4.867 |
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