INJ is in that interesting phase where the trend is intact, but buyers need to show up again.
$INJ is sitting around $7.46 after rejecting from $8.32 today. The bigger picture still looks healthy though. Price remains above the $6.14 daily Supertrend, and the move from roughly $4.28 to $8.69 has not been fully retraced.
The current pullback is where I’d pay attention.
$7.20–$7.30 is the first area I want to see defended. If that holds, INJ can start building another higher low.
Above that:
$7.90–$8.00 is the first reclaim zone
$8.32 is the immediate high to clear
$8.69 is the major breakout level
$9.20–$9.50 comes into focus after that
$10.00 becomes the bigger psychological target
There is some heavier sell-side liquidity visible in the order book right now, so I’d rather see that supply gets absorbed than assume the next move.
What makes the chart appealing is that the broader trend has not been damaged yet.
If INJ holds $7.20 and gets back above $8, this pullback could end up looking like nothing more than a reset before another attempt higher.
#INJ
$INJ is sitting around $7.46 after rejecting from $8.32 today. The bigger picture still looks healthy though. Price remains above the $6.14 daily Supertrend, and the move from roughly $4.28 to $8.69 has not been fully retraced.
The current pullback is where I’d pay attention.
$7.20–$7.30 is the first area I want to see defended. If that holds, INJ can start building another higher low.
Above that:
$7.90–$8.00 is the first reclaim zone
$8.32 is the immediate high to clear
$8.69 is the major breakout level
$9.20–$9.50 comes into focus after that
$10.00 becomes the bigger psychological target
There is some heavier sell-side liquidity visible in the order book right now, so I’d rather see that supply gets absorbed than assume the next move.
What makes the chart appealing is that the broader trend has not been damaged yet.
If INJ holds $7.20 and gets back above $8, this pullback could end up looking like nothing more than a reset before another attempt higher.
#INJ