$INJ The current position is down 91% from the ATH. The price has been hovering around $4.89 for a full month—from July 3rd to today, the range has been $4.6 to $5.3. It hasn’t broken out, and it hasn’t been dumped either. In 30 days it’s up 7.5%, but half of those green candles were lifted by the broader market, not its own alpha.
What really catches my attention is volume: over the past 30 days there were two instances where volume surged to 80–100M, but both coincided with short-term spike highs; afterwards it pulled back to the everyday level of 40–50M. This suggests someone tried to pump, but couldn’t get it to stick—or whoever was buying in wasn’t committed.
Market cap #100: liquidity is still there, but it has already fallen into a spot where nobody wants to use it for a beta allocation. For those holding it here, the hardest part isn’t just how much they’ve lost—it’s not knowing how long they’ll have to wait in this range. Above, the $5.3 ceiling has been hit twice already; below, the $4.6 support has held three times. If volume continues to shrink, this kind of tape will turn into a breeding ground for a slow bleed.
So the real disagreement is this: is this price action the last shakeout before a base is formed, or is it a continuation phase during a downtrend?
What really catches my attention is volume: over the past 30 days there were two instances where volume surged to 80–100M, but both coincided with short-term spike highs; afterwards it pulled back to the everyday level of 40–50M. This suggests someone tried to pump, but couldn’t get it to stick—or whoever was buying in wasn’t committed.
Market cap #100: liquidity is still there, but it has already fallen into a spot where nobody wants to use it for a beta allocation. For those holding it here, the hardest part isn’t just how much they’ve lost—it’s not knowing how long they’ll have to wait in this range. Above, the $5.3 ceiling has been hit twice already; below, the $4.6 support has held three times. If volume continues to shrink, this kind of tape will turn into a breeding ground for a slow bleed.
So the real disagreement is this: is this price action the last shakeout before a base is formed, or is it a continuation phase during a downtrend?