Injective/Tether Market Overview (INJUSDT)

• Price action shows a bearish trend with key resistance at 14.02 and support at 13.7.
• RSI indicates oversold conditions, suggesting a potential rebound.
• Volume increased significantly in the early hours of trading.
• Bollinger Bands indicate volatility expansion, with price near the lower band.
• A bullish engulfing pattern formed after a sharp decline, signaling potential reversal.

The Injective/Tether (INJUSDT) pair opened at 13.97 on 2025-09-20 at 16:00 ET and closed at 13.70 on 2025-09-21 at 12:00 ET. The price reached a high of 14.02 and a low of 13.65 during the 24-hour period. Total volume amounted to 191,829.07 units, while the notional turnover was approximately $2.63 million.

The structure of the 15-minute candles reveals a series of bearish formations, including a long lower shadow candle and a bullish engulfing pattern after a sharp drop. These signals suggest a potential short-term reversal or consolidation phase. Key support levels appear to be forming around 13.70 and 13.65, with resistance levels at 13.80 and 13.90. Price action appears to be consolidating around these levels, which could indicate a setup for a breakout or a continuation of the downtrend.

Moving averages indicate a bearish bias in the short term, with the 20-period MA below the 50-period MA, forming a death cross. The 50-period MA is also trending below the 100- and 200-period MAs on a daily basis, suggesting a medium-term bearish trend. Momentum appears to be slowing in the short term, with the MACD line crossing the signal line and heading lower, while the RSI has dipped into oversold territory, suggesting a possible bounce.

Bollinger Bands are currently in a wide state, indicating increased volatility over the last 24 hours. Price has touched the lower band several times, but it has not broken through, which could indicate a potential rebound from support. The recent volatility may continue, and traders may expect price to remain within or near the band boundaries for the next 24 hours.

Volume has spiked in the early part of the session, reaching over 17,000 units in a single 15-minute interval. This high volume coincided with a price rebound and suggests potential buying interest at lower levels. However, the price has not managed to follow through with a strong move higher, which could be a sign of weak conviction. The notional turnover also spiked during this period, confirming the volume surge. As the price moves lower, volume has generally decreased, indicating that bearish pressure may be waning.

Fibonacci retracement levels suggest that the price has found support at key levels like 13.70 (38.2%) and 13.65 (61.8%). These levels align with observed price action and could serve as potential reversal or continuation points. The 50% retracement level at 13.77 appears to be a critical psychological barrier for the pair, and a break below 13.65 could indicate further downward pressure.