INJ pumped 19% with 3x normal volume. This is not random noise โ someone is accumulating hard. ๐
Current picture: Trading at $6.54 with RSI(4h) at 87.1 โ deep overbought. But here is the thing: when RSI stays above 80 with surging volume, it often means a trend continuation, not an immediate reversal. The 4h MACD histogram is expanding aggressively (+0.0734), and price has cleared SMA7 ($6.06) and SMA25 ($5.29) with conviction.
Why This Trade? The daily chart tells the bigger story: RSI at 73.9 with MACD histogram still growing (+0.0495). Price broke above all daily moving averages including SMA99 at $4.98. The long/short ratio at 1.78 shows the market is bullish but not extreme. The risk is chasing at the top โ wait for a pullback toward the $6.41 entry zone.
๐ Trade Plan (LONG):
โข Entry: $6.41 โ $6.67
โข SL: $6.02 (below SMA7 on 4h, ~9% risk)
โข TP1: $6.80 (+2.5%)
โข TP2: $7.06 (+8%)
โข TP3: $7.32 (+12%)
With RSI this extended, scale in gradually rather than all at once. If RSI starts diverging (price making higher highs while RSI makes lower highs), that is your exit signal.
INJ to $8 or back to $5? What is your call? ๐
#INJ #Altcoin #DYOR
โ ๏ธ Disclaimer: This is not financial advice. Trading crypto involves significant risk. Always do your own research and manage your position size carefully.