Market Overview for Injective/Tether (INJUSDT): 24-Hour Analysis as of 2026-01-01

Summary
• INJUSDT tested key support at $4.16–4.18 before rebounding with a bullish reversal.
• Momentum shifted from bearish to mixed, with RSI near neutral and MACD turning positive.
• Volatility expanded in overnight hours, with a 15% price swing but uneven volume flow.

Injective/Tether (INJUSDT) opened at $4.349 on 2025-12-31 at 12:00 ET, hit a low of $4.16, and closed at $4.259 by 12:00 ET on 2026-01-01. Total volume for the 24-hour period was approximately 725,689.09 INJ, with notional turnover of ~$3.11 million.

Structure & Formations

INJUSDT experienced a strong bearish correction from $4.349 to $4.16, forming a short-term double-bottom near the $4.18–4.19 zone. A bullish reversal appeared after a 20-minute bullish engulfing pattern and a morning star-like formation at 02:30–03:30 ET. Price then consolidated in a tight $4.20–4.23 range, suggesting the $4.21–4.22 level could act as a near-term support/resistance pivot.

Moving Averages and Trend

On the 5-minute chart, the 20-period MA crossed above the 50-period MA around 04:45–05:00 ET, signaling a potential short-term recovery. Daily MAs were not available in this dataset, but the trend reversal in the early hours indicates a possible shift in near-term sentiment.

Momentum and Volatility

RSI fluctuated between overbought and neutral levels, reaching a low of 30 near the $4.18 support, suggesting a potential oversold bounce. MACD turned positive after 04:30 ET, aligning with the price recovery. Volatility expanded as the price moved from $4.349 to $4.16, with a Bollinger Band contraction observed during consolidation in the $4.20–4.23 range.

Volume and Turnover

Trading volume and turnover increased significantly during the 05:00–07:00 ET rebound, with the highest volume spike (30k INJ) around 04:15 ET when the price was at $4.201. However, volume during the bearish leg was uneven, with a sharp drop-off after the $4.16 low, indicating limited follow-through bear pressure.

Bullish/Bearish Setup

A key Fibonacci level at 61.8% (around $4.22–4.23) appears to be holding as a minor support/resistance pivot. If the price can clear $4.26–4.27, it could test the next 38.2% retracement level at $4.30–4.31. A breakdown below $4.18 would target the 50% retracement at $4.14.

Price appears to be in a consolidation phase after the sharp move from $4.349 to $4.16, with mixed momentum indicators. A potential breakout from the $4.20–4.23 range could confirm the next directional move. Investors may want to monitor volume patterns and the 50-period MA for further confirmation. Volatility remains elevated, and a sharp move in either direction could test the recent consolidation pattern.