Injective (INJ) is exhibiting signs of a potential major bull phase, with its price currently trading around $3.5 after a 30% increase from April lows. Analysts highlight a repeating cycle pattern since 2021, suggesting a possible move towards $100 if the trend continues. The token's price structure shows a history of higher peaks following prolonged accumulation phases, with previous highs reaching over $50. The current price action is at a critical juncture, with the $3 to $4 range acting as a support zone. A strong monthly close above this range could signal the start of a new bullish phase. Injective's growth is supported by infrastructure expansions, including native EVM support and regulated futures products. Analysts also note increased institutional participation and a shrinking supply due to buyback and burn mechanisms, which could amplify price movements if demand returns.