INJ is at a critical resistance point near $21.26, with eyes on a potential breakout that could propel it above $24.
is at a critical resistance point near $21.26, with eyes on a potential breakout that could propel it above $24. At press time, the token was trading at $21.83, having risen 6.54% in the past 24 hours.
However, with the Relative Strength Index at 58.16, there’s still room for a further move upward before hitting overbought conditions. Consequently, a failure to break this trend could result in a retracement. Support lies near $20.42, with further downside possible toward $19.32 if sellers gain control.One of the most promising signs for Injective is its 340.88% volume surge, totaling $917.65 million in trading over the last 24 hours.
However, if volume begins to taper off without the price moving past resistance, it could suggest exhaustion. Consequently, traders should keep an eye on volume trends over the next few hours to confirm whether this surge will lead to further gains or a potential pullback.Social dominance is another factor to consider. At 0.1727%, INJ’s social engagement remains active, though not at peak levels. This metric, which tracks community attention, often correlates with price movements.
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