$INJ is facing renewed selling pressure after failing to sustain its move into higher price territory. Trading around $7.971, the token has started showing signs of weakness following a rejection from the upper region, putting the recent recovery under pressure.
The $8.500–$8.70o band remains a major resistance area. Buyers would need to reclaim this region to change the immediate outlook, but the latest rejection suggests sellers are still defending that territory.
On the downside, attention shifts toward the $7.000 region, where a deeper demand shelf could come into play. A continued loss of momentum may send INJ toward this area, potentially clearing out liquidity along the way.
For now, the bearish pressure deserves attention, especially while price remains below the overhead supply. A move toward $7.000 is a possibility, although a strong recovery from current levels could disrupt that path.
#INJ #Macro Insights# #Crypto
The $8.500–$8.70o band remains a major resistance area. Buyers would need to reclaim this region to change the immediate outlook, but the latest rejection suggests sellers are still defending that territory.
On the downside, attention shifts toward the $7.000 region, where a deeper demand shelf could come into play. A continued loss of momentum may send INJ toward this area, potentially clearing out liquidity along the way.
For now, the bearish pressure deserves attention, especially while price remains below the overhead supply. A move toward $7.000 is a possibility, although a strong recovery from current levels could disrupt that path.
#INJ #Macro Insights# #Crypto
