⚡ $INJ 15m: 8.63 is holding firm, but chasing longs at the current price could get you hurt
$INJ is currently trading at $8.855, with normal volatility on the 15-minute timeframe. In the first 10 candles, the 6th was a high-volume bearish candle with a long upper wick, but it failed to break below 8.63. It was followed by three consecutive bullish candles that recovered the losses, indicating strong buying pressure below. However, the short-term market is now overbought, so the risk of chasing longs remains significant.
Key levels:
Resistance: 8.87 / 8.90 / 9.00
Support: 8.70 / 8.63 / 8.55
Entry strategy:
Lean bullish, but wait for a pullback. The current price is too close to the previous high at 8.87, making the risk/reward unfavorable for chasing longs. It would be better to follow the trend if price breaks above 8.90 on strong volume and holds there.
Long setup:
· If price pulls back to the 8.70–8.72 range, consider opening a small long position, with a stop-loss below 8.60. First target: 8.90, then 9.00.
· If price moves above 8.90 on strong volume and holds there without pulling back over the next 15 minutes, consider following the trend with a small long position. Target: 9.10; stop-loss: 8.80.
Short setup:
If price rallies to 8.90–9.00 and forms a long upper wick or volume clearly fades, consider trying a small short position, with a stop-loss above 9.05. Targets: 8.70 / 8.60. Don't rush into an early short—the bullish candles may still have momentum.
📌 Conclusion: The overall bias is bullish, but be cautious of a pullback. Whenever possible, wait for a confirmed retest before going long; don't chase price right below resistance. Where are you placing your orders? 👇
#INJ #Crypto #ShortTermTrading
$INJ is currently trading at $8.855, with normal volatility on the 15-minute timeframe. In the first 10 candles, the 6th was a high-volume bearish candle with a long upper wick, but it failed to break below 8.63. It was followed by three consecutive bullish candles that recovered the losses, indicating strong buying pressure below. However, the short-term market is now overbought, so the risk of chasing longs remains significant.
Key levels:
Resistance: 8.87 / 8.90 / 9.00
Support: 8.70 / 8.63 / 8.55
Entry strategy:
Lean bullish, but wait for a pullback. The current price is too close to the previous high at 8.87, making the risk/reward unfavorable for chasing longs. It would be better to follow the trend if price breaks above 8.90 on strong volume and holds there.
Long setup:
· If price pulls back to the 8.70–8.72 range, consider opening a small long position, with a stop-loss below 8.60. First target: 8.90, then 9.00.
· If price moves above 8.90 on strong volume and holds there without pulling back over the next 15 minutes, consider following the trend with a small long position. Target: 9.10; stop-loss: 8.80.
Short setup:
If price rallies to 8.90–9.00 and forms a long upper wick or volume clearly fades, consider trying a small short position, with a stop-loss above 9.05. Targets: 8.70 / 8.60. Don't rush into an early short—the bullish candles may still have momentum.
📌 Conclusion: The overall bias is bullish, but be cautious of a pullback. Whenever possible, wait for a confirmed retest before going long; don't chase price right below resistance. Where are you placing your orders? 👇
#INJ #Crypto #ShortTermTrading