Layer 1 · rank #102

Injective INJ

$5.46+2.8% 1d+10.7% 7d+23.9% 30d

Watch Phoenix · weekly · score 62.5 bullish lean

Monthly: forming bar is a green inside bar. Last confirmed swing low 2.66 (Feb 2026), month 7 of a cycle that has typically run 3. Current low 3.95 is unconfirmed — it confirms above 6.07. Cycle-low confidence 19%.
Weekly: forming bar is a green 2-Up. Last confirmed swing low 4.40 (Sep 2026), week 1 of a cycle that has typically run 4. Cycle-low confidence 32%.
Daily: bar is a green 2-Up. Last confirmed swing low 4.40 (2026-09-04), day 3 of a cycle that has typically run 5. Cycle-low confidence 25%.
Watch: 63% below the 2025-09-13 high; +106% off the 365-day low.
Phoenix: 92% decline over 29 months, weekly swing low confirmed (next-bar), now +38% above the trough; first weekly pullback after the low confirmed 2026-09-07 (trigger 5.38).
Gauges: Mayer multiple 1.27 (neutral); -59% vs the 200-week average; -90% from the all-time high.

From the peak to today, log scale

Where it sits in each cycle

a swing low confirms only when a later bar takes out the low bar's high

stopped falling, by the rules

Score 62.5

CoinGecko + DefiLlama, pulled 2026-09-07 .xlsx

Health49 / 100 · Thin

Liquidity (24h volume / market cap) can you get out	17.5 %	15.0 / 15
Supply overhang (FDV / market cap) unlocked supply waiting to sell	1.0 x	15.0 / 15
Size (market-cap rank) survivorship	102 #	6 / 15
Usage (price / annualized fees) fees people actually pay to use it (DefiLlama)	219.9 x	0 / 20
TVL backing (market cap / TVL) capital parked in it (DefiLlama)	56.41 x	0.0 / 15
Fee momentum (30d vs prior 30d) is usage growing into the recovery	-23.2 %	2.7 / 10
Age on Coinbase survived a cycle	4.0 yrs	9.9 / 10

7 of 7 measurable; score renormalized over what was measurable.