Injective Price Analysis: Volatility Surges as Bulls and Bears Battle Around $11
Injective (INJ) has seen a rollercoaster of price action over the past week, with strong sell-offs followed by equally aggressive recoveries โ highlighting increasing volatility and trader uncertainty around key levels.
๐ Weekend Sell-Off: Bulls Lose Control
The previous weekend kicked off with heavy selling pressure:
Friday: INJ dropped 4%
Saturday: Continued decline of nearly 8%, closing at $10.10
Sunday: Hit an intraday low of $8.98 before rebounding to $9.72, still down nearly 4% for the day
๐ Early-Week Rebound: Bulls Strike Back
Monday: Strong rebound as INJ surged 12%, reclaiming the $10 mark and closing at $10.89
Tuesday: Buyers stayed active, pushing the price up another 6.31% to $11.58
Midweek Pullback: Resistance Kicks In
Wednesday: The momentum slowed, and INJ pulled back 4%, settling at $11.07
Thursday: Price spiked to an intraday high of $11.57 but failed to hold, dropping almost 4% to close at $10.64
Friday: Bears remained in control, with a minor 1.01% decline to $10.53
๐ Weekend Recovery Attempts
Saturday: Bulls regained momentum, lifting INJ over 4% to $10.99
Sunday: Continued bullish action pushed the price another 4.13%, closing at $11.44
โ ๏ธ Current Session: Sellers Regain Grip
As of the latest session, sellers have returned, and INJ is down 4.51%, trading around $10.92.
๐ Key Levels to Watch:
Resistance: $11.60 (short-term cap), $12.00 (psychological barrier)
Support: $10.50, with stronger footing at $9.70โ$10 zone
Trend Bias: Neutral-Bullish in the short term, but vulnerable to market sentiment shifts