Injective (INJ) is showing weakness in the short term. In the 15-minute frame, a clear bearish structure is visible, with lower highs and lower lows. The price lost the 5.30 area and went to seek liquidity near 5.19, from where it bounced with some volume, but without much conviction.
Right now, the price is trying to stabilize around 5.24, just below the short moving averages. As long as it remains below the MA of 25 and 99, the bias remains bearish. The bounce seems more technical than impulsive, a typical pullback after a strong drop.
For the next few hours, there are two clear scenarios:
Bearish scenario: if it does not manage to recover strongly the 5.28–5.30 area, it is likely to pressure the 5.20 support again and even attempt to sweep the recent lows once more.
Relief scenario: if volume enters and breaks 5.30 with a clear close, it could target 5.35–5.38, although for now that movement looks more corrective than a trend change.
In summary, the market remains very fragile. As long as it does not recover key levels, the wisest approach is to wait for confirmations and not anticipate reversals. The bounce exists, but there are still no clear signs of real strength. This is the big Year-End Token and we expect great things.
