📉 Injective ($INJ ) Market Update — December 6
INJ is currently trading at $5.49, reflecting a –4.52% decline as the token remains under strong short-term selling pressure on the 1-minute chart.
After hitting the 24h low at $5.35, the price attempted a small recovery, but both MA(7) and MA(25) are still trending downward and pressing heavily on the candles. The MA(99) is also sloping down, confirming that INJ is in a clear micro-downtrend.
A brief bounce toward $5.50 showed some buyer interest, but sellers quickly regained control, leading to another red candle with increased volume.
Key Observations:
🔻 24h Change: –4.52%
📊 24h Range: $5.83 – $5.35
🟡 MA(7): Acting as immediate resistance
🟣 MA(25 & MA(99)): Confirming ongoing downtrend
📈 Sudden volume spikes showing sharp sell-side reactions
🔻 Support retest zone: $5.45 – $5.48
Summary:
INJ remains weak in the micro timeframe as moving averages continue to push price downward.
If buyers can defend $5.48, a short relief move toward $5.52 may form.
But if selling pressure increases, INJ could revisit $5.40 – $5.35.
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