Is the next price of INJ 29 as injections surge by 18 in 7 days

Coinjek News Report:
Injective is showing strong momentum after breaking through a month-long downtrend channel, with an expected rise to $29.84.
As of the time of writing, the market sentiment around INJ is positive, positioning the token favorably.
In the past week, the Injector [INJ] has started to rebound significantly, rising 18% after bouncing back from the lower end of the trading channel.
In the past 24 hours, this number has increased significantly by 3.02%, and this upward trend seems likely to continue.
Injective’s target is to reach a peak of $29.
As of the time of writing, INJ is experiencing a significant rise and has broken the downtrend that started in April. Such patterns often precede a sharp rise;
INJ rebounded from the support level of the downtrend and gained additional momentum after trading at the subsequent support level of 18.14, leading to the breakthrough.
If the current bullish momentum continues, INJ can climb from its current $22.14 to the channel peak of $29.84, with a potential return of 33.07%.
On the contrary, if INJ falls, it may retreat to the level of $18.14 and then potentially resume its upward trajectory.
Increased buying interest
The buying rate of Injective (INJ) has surged, with both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators signaling a bullish trend;
The RSI is at 65.80, indicating strong accumulation by traders, which could further drive up the price of INJ from its current level.
MACD is a key trading indicator, strengthening this outlook by showing strong buy signals.
This is evident as the blue MACD line and the orange signal line have entered the positive zone, while the green upward momentum line dominates.
The continued trend of these indicators suggests a favorable trajectory for INJ in the upcoming trading period.
This indicates a sustained bullish trend.
As of the time of writing, Injective is experiencing a bull market
with more funds flowing into the asset. The increase in its Open Interest (OI) weighted funding rate highlights this, with the rate currently at 0.0056%.
This growth indicates intensified market buying activity, especially during the uptrend.
Reading
Injective’s price forecast
2024–2025
The OI weighted funding rate provides a more accurate reflection based on the outstanding contracts of each leverage tier.
The observed positive rates currently indicate a strong market optimism, supporting the expectation of INJ reaching the $29.84 target.