🔍 $INJ

Holding the Line — Breakout Brewing or Bull Trap? (June 6 Update)

📉 Current Price: $11.058

📊 24H Range: $10.74 – $11.34

🧠 Category: DeFi / AI Narrative

Injective ($INJ) is consolidating above key support at $11.00 after a rejection from $11.30. Despite short-term resistance, the market structure remains healthy with a series of higher lows. Momentum is compressing — often a precursor to a breakout.

📈 Bullish Setup – Range Play

Entry Zone: $10.90 – $11.10 ✅

Targets:

TP1: $11.48

TP2: $11.95

TP3: $12.60

Stop Loss: $10.58

💡 Best entry comes after a bounce or reclaim candle near $11.00.

📉 Bearish Setup – Only if Resistance Flips

Short Entry: $11.35 – $11.50 (on strong rejection)

Targets:

TP1: $10.80

TP2: $10.30

Stop Loss: $11.65

🔍 Valid only if volume remains low or a clear rejection wick forms.

📊 Technical Overview

Support: $10.55 – $10.90

Resistance: $11.50 – $12.00

Trend Bias: Neutral → Bullish

Volume: Low – coiling for expansion

RSI: Mid-range – neutral, with upside potential

MACD: Tightening – volatility squeeze

✅ Final Outlook

INJ is respecting the $11.00 support and trading within a classic compression range. A breakout above $11.50 with volume confirmation could open the door to $12+. However, a break below $10.90 may trigger a deeper pullback toward $10.30–$9.90.

📈 Bullish above: $11.15

📉 Bearish below: $10.55

⚠️ Risk Level: Medium – Wait for clear confirmation before entering.

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