INJ is trading at $7.96 after a sharp multi-week surge, but with RSI pinned at 72, momentum flatlined at the MACD crossover, and aggressive taker selling dominating intraday flow, the next 48–72 ho...

Let's be clear: the Injective chart tells the story of a coin that has been on a tear. Price is up nearly 74% from its SMA 200 at $4.58, and every major moving average — the 7, 20, 50, and 200 — is stacked bullishly below current price. That's not nothing. In a market where most Layer-1 altcoins are still limping, INJ trading at $7.96 with a clean upward slope across all timeframes is a legitimate show of relative strength.

But here's the problem: the short-term setup is getting sloppy. The 24-hour candle shows a range of $7.56 to $8.34, which means price tagged the upper Bollinger Band and got slapped back. That upper band at $8.33 aligns almost perfectly with immediate resistance at $8.35 — a confluence that doesn't break on the first try. Buyers pushed, sellers showed up, and now INJ is parked right on its pivot at $7.95. The next 12 hours will tell you whether this is healthy consolidation or the start of a more meaningful unwind. Traders tracking the broader DeFi L1 narrative should keep Blockchain.news on their radar for any macro crypto news that could shift the backdrop fast.

Price sitting at 91% of the way between the lower and upper Bollinger Bands is not where you want to be initiating new longs.

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