$INJ: Fakeout Confirmed: Bulls Trapped at Local Highs
SHORT SETUP INJ
Entry: $7.4500 - $7.5500
Stop Loss: $7.8200
Take Profit: $6.8600 (2R)
Key Levels: Support $6.9990 | Resistance $7.7050
Technical Analysis for $INJ: RSI at 28.4 and Stochastic K at 4.6 signal deep oversold conditions, while the MACD histogram remains negative, confirming bearish momentum. Price sits below EMA9, EMA21 and EMA50, reinforcing a downtrend. Orderbook shows a 9.3% bid imbalance, but the broader market is broadly negative, favoring a short bias. Given these signals, the setup leans short.
Market Context: BTC is down 3% on the 4hour chart, with bearish EMA alignment, and overall crypto market breadth is 93.9% red, indicating a
SHORT $INJ
SHORT SETUP INJ
Entry: $7.4500 - $7.5500
Stop Loss: $7.8200
Take Profit: $6.8600 (2R)
Key Levels: Support $6.9990 | Resistance $7.7050
Technical Analysis for $INJ: RSI at 28.4 and Stochastic K at 4.6 signal deep oversold conditions, while the MACD histogram remains negative, confirming bearish momentum. Price sits below EMA9, EMA21 and EMA50, reinforcing a downtrend. Orderbook shows a 9.3% bid imbalance, but the broader market is broadly negative, favoring a short bias. Given these signals, the setup leans short.
Market Context: BTC is down 3% on the 4hour chart, with bearish EMA alignment, and overall crypto market breadth is 93.9% red, indicating a
SHORT $INJ