Despite recent breakthroughs by Injective (INJ), such as the launch of the BUIDL index and other important upgrades, the price of INJ still fell below $17.50.
The main reasons include:
The market reaction was less than expected: Although the launch of the BUIDL index attracted attention, the price of INJ encountered rejection when retesting $17.60, showing that the market's short-term reaction to the new product was limited.
Technical trend: INJ's weekly chart shows a descending wedge trend, indicating that the decline may continue.
Overall market performance: INJ has fallen 53% so far this year, lagging behind Bitcoin and other major altcoins, which may have affected investor confidence.
Even with breakthrough technical updates, market sentiment and technical trends may still suppress the price of INJ.
Public account: Pumpkin Strategy (early review strategy analysis of Bitcoin BTC and Ethereum ETH from Monday to Saturday, long-term recommendation of high-quality coins and live analysis, and irregular sharing of Fu Mi Ma)
