From Coinpedia · By Shubham Vishwakarma
Story HighlightsINJ price trades near $7.94, with a breakout above $9 potentially opening the path toward $10.
Three U.S. ETF applications tied to INJ are pending approval, while Injective's CEO expects a launch before 2027.
Governance proposal IIP-709 aims to make gas requirements more predictable for key exchange transactions.
Injective (INJ) is approaching a key resistance zone as ETF expectations and network developments bring renewed attention to the token. After recovering from its August lows, INJ is consolidating near $8, with buyers attempting to sustain the uptrend. Three U.S. ETF applications have strengthened the institutional-access narrative, while a proposed gas-fee upgrade targets transaction predictability. However, the immediate price question remains whether INJ can break above $9 or face another rejection.
Injective ETF Hopes Strengthen Institutional Interest
Injective’s ETF narrative gained traction after three U.S. investment products tied to INJ were filed by 21Shares, Canary Capital and REX-Osprey. The proposed products offer potential routes for traditional investors to gain exposure to the token, with some filings also involving staking.
Injective CEO Eric Chen said on October 5 that he expected U.S. INJ ETFs to launch before 2027, although he did not provide a specific date. The applications remain subject to regulatory approval, and their eventual impact will depend on whether the products launch and attract meaningful inflows. For INJ, the development creates a potential catalyst, but expectations alone do not guarantee sustained buying pressure.
IIP-709 Proposal Targets More Predictable Gas Fees
Injective is also advancing a governance proposal designed to make transaction costs more predictable for selected exchange operations.
Proposal IIP-709 would introduce fixed gas requirements for transactions such as order placements, cancellations and subaccount transfers. The feature has been tested on Injective’s testnet but remains disabled on mainnet pending governance approval.
INJ Price Analysis: Can Bulls Break Above $9?
INJ price is trading near $7.94, following a recovery from the $4–$5 region in August. The token has maintained a rising trendline, but recent price action shows repeated resistance near the upper end of its trading range. The immediate support zone sits around $7.40–$7.60, where horizontal support aligns with the rising trendline. Holding this area would preserve the current recovery structure. A breakdown could expose $6.80–$7.00, followed by moving-average support around $5.70–$6.10.
On the upside, $8.50–$9.00 is the critical resistance zone. A sustained daily close above $9, supported by stronger trading volume, could open the way toward $9.50–$10.00.