The cryptocurrency market has been experiencing a rollercoaster ride, with Bitcoin's price dropping below $65,300 and altcoins feeling the pinch. However, Injective (INJ) Coin, despite hitting its annual low, is showing signs of resilience and potential recovery.

INJ Coin has been through a rough patch, but there are encouraging signals that the selling pressure is easing. The decline in active assets being transferred to exchanges is a positive indicator, suggesting that investors are holding onto their INJ Coins for longer. This is further supported by the increasing Average Coin Age, which indicates that investors are accumulating and less willing to sell.

As investors hold onto their INJ Coins, the price is expected to rise. Although Bitcoin's price fluctuations may be discouraging, INJ Coin's technical indicators suggest a rebound is possible. After hitting a low of $21.3, INJ Coin is currently lingering at $23.9, and a continued rise could lead to a test of $28, which corresponds to the 200-day EMA. This price level would also reverse the dominant downtrend. However, if Bitcoin's losses deepen and a selling spree begins in altcoins, INJ Coin will likely be affected, and closures below $21.3 could lead to new lows.

Despite the uncertainty, investors are closely watching the market, motivated by the latest inflation data and 13F documents. As the situation evolves, INJ Coin's resilience and potential recovery make it a promising asset to keep an eye on.