Injective/Tether (INJUSDT) Market Overview: 2025-09-17

• INJ/USDT traded in a 24-hour range of $13.58–$13.93, with a 15-minute close near mid-range.
• Momentum remained mixed, with RSI fluctuating but not hitting overbought or oversold levels.
• Volume spiked during late ET hours but did not confirm a directional breakout.
• A bullish engulfing pattern appeared near the 13.80 level, suggesting temporary buying pressure.
• Price action remains in a tight consolidation phase ahead of potential directionality.

Injective/Tether (INJUSDT) opened at $13.61 (12:00 ET − 1) and closed at $13.88 (12:00 ET), reaching a high of $13.93 and a low of $13.58. Total volume over the 24-hour period was 146,466.84 INJ, and notional turnover amounted to approximately $2,014,339. The pair has shown a moderate consolidation pattern with no clear breakout.

Structure & Formations

Price action revealed a key support zone between $13.72–$13.76 and a resistance cluster near $13.88–$13.90. A bullish engulfing candle formed around $13.80 during the early morning ET hours, suggesting short-term buying interest. A doji appeared near $13.88, indicating indecision among traders at the upper end of the range. These formations suggest that INJ/USDT remains in a tight consolidation pattern, with potential for a breakout to the upside or a pullback toward key support.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period and 50-period moving averages closely aligned, indicating sideways action. The MACD histogram remained flat to slightly positive, while the RSI fluctuated between 40–60, avoiding overbought or oversold extremes. On the daily chart, the 50-period moving average is below the 100-period line, indicating a longer-term bearish bias, but the 200-period MA remains flat, suggesting a neutral to cautious outlook for the next 24 hours.

Bollinger Bands and Volatility

Price remained within the Bollinger Bands for most of the day, with volatility increasing slightly during late ET hours. A notable contraction in the band width occurred just before the 22:00 ET–00:00 ET spike, suggesting a potential breakout setup. However, no directional bias materialized, and price returned to the middle band, indicating continued indecision.

Volume and Turnover Analysis

Volume increased notably during the 22:00–24:00 ET window, peaking with a 16,292.92 INJ trade at $13.93. Despite the volume spike, price failed to hold above $13.90 and pulled back toward the mid-range. Turnover also spiked during this period but failed to confirm a breakout, pointing to potential exhaustion or lack of conviction in the upper range.

Fibonacci Retracements

On the 15-minute chart, the 38.2% retracement level sits around $13.83, and the 61.8% level is at $13.89. Price tested the 61.8% level but failed to close above it, suggesting a potential near-term ceiling. A daily swing from the low of $13.58 to the high of $13.93 shows a 38.2% retracement at $13.76 and a 61.8% at $13.85, with INJ/USDT currently near the 61.8% level.

Backtest Hypothesis

A potential backtesting strategy could exploit the 38.2–61.8% Fibonacci retracement range and the volume-weighted support/resistance levels. A long entry could be considered at the 38.2% level ($13.83) with a stop loss below $13.76 and a target at the 61.8% level ($13.89). Conversely, a short trade could target a pullback to the 13.76 support with a stop above $13.83. This strategy aligns with the observed volume spikes and key candlestick patterns, such as the bullish engulfing and indecisive doji, suggesting a high-probability setup for a range-bound trade.