$INJ is trading within a descending channel on the 4-hour chart, exhibiting signs of a potential bullish reversal as it forms a higher low at the critical support zone around $5.50. Despite the broader downtrend, buyers have stepped in aggressively to defend this level, absorbing selling pressure and pushing the price back above the 50 EMA after a brief probe lower. Oversold RSI conditions near the lower boundary further support accumulation, with recent volume spikes indicating building interest from institutional players. As long as the channel's lower boundary holds, momentum could shift favorably toward a breakout, targeting the upper liquidity zone and prior resistance.
Trade Setup
Entry Range: 5.50 – 5.55
Target 1: 5.80
Target 2: 6.00
Target 3: 6.15
Stop Loss: 5.40
INJ
5.27
+0.95%