$INJ has given back ~87% of its ETF-launch pop. Canary's staked INJ ETF (INJC) began trading Nov 5. INJ ran from 7.25 to 8.58 and now sits at 7.42.
Trend: Neutral (4H below EMAs, 1D above EMA200)
🎯 Entry long: 6.90 – 7.00 (only after a test and a 1H close back above 6.94; valid until PPI, Nov 13, 13:30 UTC)
✅ TP1: 7.50
✅ TP2: 7.82
✅ TP3: 8.28 (only if 7.61 is reclaimed)
🛑 SL: 6.68
📊 Logic:
• 6.82-6.94 is the pre-ETF floor: lows of 6.86, 6.89 and 6.82 on Oct 30, Nov 2, Nov 3.
• TP1 sits under the 1D EMA50 (7.56). 7.61 (15 touches on 4H) is the wall before TP2, which stops under the 1D EMA20 (7.84).
• OI fell ~11% in 24h, funding -0.02%: longs closing, not new shorts piling in.
• Risk: $BTC 4H is in a downtrend. 1D ATR is ~9%, so size small.
⚠️ Invalidation: a 4H close below 6.82 (exit early, don't wait for 6.68). If 7.50 prints before a fill, skip.
If $INJ revisits 6.90: HOLD or FAIL? Drop one word 👇
#INJ #Injective #ETF
Disclaimer: Personal view, not financial advice. DYOR.
Trend: Neutral (4H below EMAs, 1D above EMA200)
🎯 Entry long: 6.90 – 7.00 (only after a test and a 1H close back above 6.94; valid until PPI, Nov 13, 13:30 UTC)
✅ TP1: 7.50
✅ TP2: 7.82
✅ TP3: 8.28 (only if 7.61 is reclaimed)
🛑 SL: 6.68
📊 Logic:
• 6.82-6.94 is the pre-ETF floor: lows of 6.86, 6.89 and 6.82 on Oct 30, Nov 2, Nov 3.
• TP1 sits under the 1D EMA50 (7.56). 7.61 (15 touches on 4H) is the wall before TP2, which stops under the 1D EMA20 (7.84).
• OI fell ~11% in 24h, funding -0.02%: longs closing, not new shorts piling in.
• Risk: $BTC 4H is in a downtrend. 1D ATR is ~9%, so size small.
⚠️ Invalidation: a 4H close below 6.82 (exit early, don't wait for 6.68). If 7.50 prints before a fill, skip.
If $INJ revisits 6.90: HOLD or FAIL? Drop one word 👇
#INJ #Injective #ETF
Disclaimer: Personal view, not financial advice. DYOR.
