Injective INJ
INJ cycle analysis · chart, confirmed lows and fundamentals
Watch Recovering held Phoenix · monthly · score 61.0 full bullish continuity
39.0% below its 365-day high of $14.75 (2025-11-08), +238.4% off the 365-day low. Snapshot 2026-10-21 UTC.
On the Watch.
Held on the Watch: it last met the Watch rules. Today it meets no tier rule; a tier moves down only after five consecutive scans below its rules.
Recovering: a monthly swing low has confirmed. The badge coexists with the tier; it is not a completed recovery.
Phoenix monthly: stopped falling by the rules, +127.7% above the Aug 2026 trough. Details below.
Since the previous scan.
Tier, recovering badge and Phoenix state are unchanged between these two observations.
Comparing 2026-10-20 with 2026-10-21 UTC. Classification, not price returns.
Recorded timeline →Where it sits in each cycle
a swing low confirms only when a later bar takes out the low bar's highMonthly
- Last bars
- 2Ur 1g 3g 2Ug 2Ug
- Confirmed low
- $3.95 · 2026-08-31
- Position
- 2 of median 4.0 (max 11)
- Current low
- $3.95 · confirmed
- Cycle-low confidence
- 19% · in band
- Confirmed lows
- 9
Weekly
- Last bars
- 2Ur 2Dr 3g 2Ug 2Ug
- Confirmed low
- $6.41 · 2026-10-11
- Position
- 2 of median 4 (max 14)
- Current low
- $6.41 · confirmed
- Cycle-low confidence
- 42% · in band
- Confirmed lows
- 42
Daily
- Last bars
- 2Dr 2Dg 1r 2Ug 2Ug
- Confirmed low
- $7.79 · 2026-10-18 (daily)
- Position
- 3 of median 5 (max 21)
- Current low
- $7.79 · confirmed
- Cycle-low confidence
- 27%
- Confirmed lows
- 276
The full read, in sentences
- Monthly: forming bar is a green 2-Up. Last confirmed swing low 3.95 (Aug 2026), month 2 of a cycle that has typically run 4. Cycle-low confidence 19%.
- Weekly: forming bar is a green 2-Up. Last confirmed swing low 6.41 (Oct 2026), week 2 of a cycle that has typically run 4. Cycle-low confidence 42%.
- Daily: bar is a green 2-Up. Last confirmed swing low 7.79 (2026-10-18), day 3 of a cycle that has typically run 5. Cycle-low confidence 27%.
- Watch: 39% below the 2025-11-08 high; +238% off the 365-day low.
- Phoenix: 92% decline over 29 months, monthly swing low confirmed (next-bar), now +128% above the trough; pullback #3 confirmed 2026-10-18.
- Gauges: Mayer multiple 1.71 (neutral); -33% vs the 200-week average; -83% from the all-time high.
Has Injective bottomed?
A confirmed swing low is evidence of a price pattern, not proof of a final market bottom. Here is what the INJ snapshot records on 2026-10-21 UTC:
Monthly: the last confirmed swing low is $3.95 from 2026-08-31. The current candidate is marked confirmed. The latest monthly bar is still forming.
Weekly: the last confirmed swing low is $6.41 from 2026-10-11. The current candidate is marked confirmed. The latest weekly bar is still forming.
Daily: the last confirmed swing low is $7.79 from 2026-10-18. The current candidate is marked confirmed.
How bottom confirmation works. Cycle-low confidence is a heuristic score, not a calibrated probability of a profitable trade.
How far is Injective below its high?
The Coinbase price snapshot is 39.0% below its rolling 365-day high of $14.75 from 2025-11-08. Separately, CoinGecko reports -82.9% relative to its all-time high of $52.62 in the fundamentals snapshot pulled 2026-10-21.
Different sources and observation times can produce different drawdowns. Compare crypto drawdowns and reference highs.
The recorded history
scan observations, not exact transition timesFirst observed 2026-09-19. 33 observations; absence from a captured scan is unmatched, never recovery.
- Phoenix monthly → Watch; recovering · Phoenix monthly
- First observed: Phoenix monthly
Phoenix
stopped falling, by the rules- Peak
- $53.00 · Mar 2024
- Trough
- $3.95 · Aug 2026
- Decline
- -92.5% over 29 months
- Above trough
- +127.7%
- Monthly
- confirmed (next-bar) · trigger $6.07
- Weekly
- confirmed (next-bar)
- False bottom
- none
- Entry
- pullback #3 low $6.41 confirmed 2026-10-18 · trigger $8.32
| decline | 30 |
| confirmation | 25 |
| earliness | 6.0 |
| stale | 0 |
| false bottom | 0 |
| bluechip | 0 |
Fundamentals
| Liquidity (24h volume / market cap) can you get out | 12.52 % | 15.0 / 15 |
| Supply overhang (FDV / market cap) unlocked supply waiting to sell | 1.0 x | 15.0 / 15 |
| Size (market-cap rank) survivorship | 90 # | 6 / 15 |
| Usage (price / annualized fees) fees people actually pay to use it (DefiLlama) | 267.9 x | 0 / 20 |
| TVL backing (market cap / TVL) capital parked in it (DefiLlama) | 50.28 x | 0.0 / 15 |
| Fee momentum (30d vs prior 30d) is usage growing into the recovery | 12.7 % | 6.3 / 10 |
| Age on Coinbase survived a cycle | 4.1 yrs | 10.0 / 10 |
7 of 7 measurable; score renormalized over what was measurable.
- Market cap
- $762.9M
- Fully diluted
- $762.9M
- 24h volume
- $95.5M
- Circulating
- 100,000,000
- All-time high
- $52.62 · 2024-03-14 (-82.9%)
- TVL
- $15.2M (chain)
- Fees 30d
- $234.0K
- Revenue 30d
- $234.0K
- Fees 1y
- $3.5M
- Mayer multiple
- 1.707 · neutral
- vs 200-week avg
- -33.3%
- Pi cycle
- 0.6
- On Coinbase since
- 2022-09-20 (1493 bars)
- CoinGecko id
- injective-protocol
Continue your cycle research
How to read a crypto cycle chart · Calculation rules and sources