$INJ ⚠️ is still struggling to make a strong comeback‼️📉
Buyers tried to push the price higher, but sellers came back with another rejection, putting more pressure on INJ.
Currently, INJ is trading below its 20-day EMA around $7.779. This level is becoming a tough barrier for bulls, and if the price fails to break above it, we could see another downward move in the coming sessions.
For now, the $7 zone is an important level to watch. 👀 If selling continues with the same pressure, INJ may revisit this demand area, where buyers could try to stop the fall and start a recovery.
But there is still some hope for bulls. If INJ manages to reclaim the 20-day EMA and hold above it, the market sentiment may slowly improve, possibly opening the door for a fresh upward move. 🚀
Another thing to notice is Open Interest, which has fallen sharply toward $79 million. This shows traders are reducing their positions or leverage. Meanwhile, supply in profit is staying around $75 million, showing little recent change.
So, INJ remains under pressure for now. ⚠️ Watch the $7 support and EMA breakout carefully before making any trading decision.
Buyers tried to push the price higher, but sellers came back with another rejection, putting more pressure on INJ.
Currently, INJ is trading below its 20-day EMA around $7.779. This level is becoming a tough barrier for bulls, and if the price fails to break above it, we could see another downward move in the coming sessions.
For now, the $7 zone is an important level to watch. 👀 If selling continues with the same pressure, INJ may revisit this demand area, where buyers could try to stop the fall and start a recovery.
But there is still some hope for bulls. If INJ manages to reclaim the 20-day EMA and hold above it, the market sentiment may slowly improve, possibly opening the door for a fresh upward move. 🚀
Another thing to notice is Open Interest, which has fallen sharply toward $79 million. This shows traders are reducing their positions or leverage. Meanwhile, supply in profit is staying around $75 million, showing little recent change.
So, INJ remains under pressure for now. ⚠️ Watch the $7 support and EMA breakout carefully before making any trading decision.
