$INJ Update Injective has now impulsively retraced the overlapping corrective advance that developed between June 30 and July 24. From an Elliott Wave perspective, this increases the probability that the decline completed as a Wave C, suggesting the corrective phase may now be finished. At this stage, it's still too early to determine whether this marks the beginning of Wave 3 or simply the start of a larger Wave C. For now, both scenarios remain valid. My base case is that Injective should deliver higher prices over the medium to long term, which is why I plan to open a futures long position targeting the $6.00 region. My spot position remains untouched. The next key confirmation will come from the market structure. If INJ can develop a clean impulsive advance and break above the $7.30 high, confidence in the bullish scenario will increase significantly. If that breakout fails, I would still consider one final decline into the $4–3 region as a valid alternative, where a larger higher-timeframe bottom could eventually form.