LOL, INJ has basically become a permanent fixture on the trending list today. I opened it and thought I’d missed something.
Nasdaq gave the green light: Canary’s staking-enabled INJ ETF (ticker: INJC) can now be listed. The fund plans to stake 90% of its holdings and earn staking rewards. After the news broke, INJ surged from $6.82 to around $8.30 in three days, up 22%, and is now pushing against the $8.43 resistance level.
On one side, people are already getting excited: the first INJ staking ETF in the U.S.! Institutional money can finally come in through regulated channels. If it breaks $8.40, then $9.40—and even $10—are in sight. On the other side, people are tugging at your sleeve, telling you not to chase: take a breath—the approval is for listing, and trading hasn’t even started yet. The 4-hour RSI is already at 74.6, and the death cross hasn’t resolved. The faster this rally climbs, the harder it could fall.
My take: the news is genuinely positive, I’ll give it that. But I’m not chasing at this price. If it can’t hold above $8.43, then this 22% move was just a news-driven spike, and those taking profits will get out faster than those buying in.
What do you think—is the ETF rally just getting started, or was the approval day the short-term peak for INJ?
Nasdaq gave the green light: Canary’s staking-enabled INJ ETF (ticker: INJC) can now be listed. The fund plans to stake 90% of its holdings and earn staking rewards. After the news broke, INJ surged from $6.82 to around $8.30 in three days, up 22%, and is now pushing against the $8.43 resistance level.
On one side, people are already getting excited: the first INJ staking ETF in the U.S.! Institutional money can finally come in through regulated channels. If it breaks $8.40, then $9.40—and even $10—are in sight. On the other side, people are tugging at your sleeve, telling you not to chase: take a breath—the approval is for listing, and trading hasn’t even started yet. The 4-hour RSI is already at 74.6, and the death cross hasn’t resolved. The faster this rally climbs, the harder it could fall.
My take: the news is genuinely positive, I’ll give it that. But I’m not chasing at this price. If it can’t hold above $8.43, then this 22% move was just a news-driven spike, and those taking profits will get out faster than those buying in.
What do you think—is the ETF rally just getting started, or was the approval day the short-term peak for INJ?