🔴 INJUSDT — decided to test an interesting idea
Opened a short on INJ. After a strong recovery from 7.14, the price isn't showing convincing follow-through to the upside yet.
What caught my attention:
📉 On the 15m chart, the price fell below EMA 7 and EMA 25.
📊 RSI started to weaken.
🐋 Open interest rose noticeably during the bounce, so it'll be interesting to see how the market behaves next.
My view: if sellers maintain the pressure, we could see a move to 7.85, followed by 7.70.
But there's a caveat: the daily chart remains bullish for now. So a reversal to the downside still needs confirmation.
Let's see who's right — the sellers or the buyers. 😁
Would you risk opening a short right now, or would you keep looking for an entry point for a long?
$INJ
#INJ #Injective #Binance #Trading
Opened a short on INJ. After a strong recovery from 7.14, the price isn't showing convincing follow-through to the upside yet.
What caught my attention:
📉 On the 15m chart, the price fell below EMA 7 and EMA 25.
📊 RSI started to weaken.
🐋 Open interest rose noticeably during the bounce, so it'll be interesting to see how the market behaves next.
My view: if sellers maintain the pressure, we could see a move to 7.85, followed by 7.70.
But there's a caveat: the daily chart remains bullish for now. So a reversal to the downside still needs confirmation.
Let's see who's right — the sellers or the buyers. 😁
Would you risk opening a short right now, or would you keep looking for an entry point for a long?
$INJ
#INJ #Injective #Binance #Trading