$INJ is climbing while the market bleeds.
BTC is down hard today, and INJ is up 5.26% at 8.241, with a 24h high of 8.584 and a low of 7.778. Injective is the finance focused Layer 1 that became the first L1 to register as an SEC transfer agent, and that institutional angle has been sitting behind this chart for months.
The 4h structure is a staircase. It bottomed at 6.823, then built higher lows all the way up to 8.584. The Supertrend flipped from red to green and now sits at 7.563, well under price, so it's acting as support.
The pullback off the high was quick. One red candle took it back toward 7.88, and buyers stepped in right away and pushed it back above 8.2. RSI(6) is at 67.39, strong but not stretched.
Volume spiked on the way up and peaked on that red candle, which is normal for a first rejection. The latest bar shows 59.5K INJ against a MA(5) of 468K, so it's cooling while price consolidates.
The bigger trend is intact. 90 day is up 83.87%, 180 day is up 95.24% and 1 year is up 22.97%.
A close above 8.584 on volume opens the next leg. Losing the Supertrend at 7.563 puts the breakout in question.
$INJ
BTC is down hard today, and INJ is up 5.26% at 8.241, with a 24h high of 8.584 and a low of 7.778. Injective is the finance focused Layer 1 that became the first L1 to register as an SEC transfer agent, and that institutional angle has been sitting behind this chart for months.
The 4h structure is a staircase. It bottomed at 6.823, then built higher lows all the way up to 8.584. The Supertrend flipped from red to green and now sits at 7.563, well under price, so it's acting as support.
The pullback off the high was quick. One red candle took it back toward 7.88, and buyers stepped in right away and pushed it back above 8.2. RSI(6) is at 67.39, strong but not stretched.
Volume spiked on the way up and peaked on that red candle, which is normal for a first rejection. The latest bar shows 59.5K INJ against a MA(5) of 468K, so it's cooling while price consolidates.
The bigger trend is intact. 90 day is up 83.87%, 180 day is up 95.24% and 1 year is up 22.97%.
A close above 8.584 on volume opens the next leg. Losing the Supertrend at 7.563 puts the breakout in question.
$INJ
