Injective Protocol (INJUSDT) Market Overview

• Price dropped to a 24-hour low of $12.71 before rebounding to close near $13.05, showing potential short-term bottoming action.
• Strong volume spikes confirmed key support near $12.75, with bullish reversal patterns emerging in the final 6 hours.
• RSI bottomed near oversold territory at 28, suggesting a possible near-term bounce, though momentum remains mixed.
• Bollinger Bands widened after a contraction, indicating a shift toward higher volatility and potential breakout risk.
• MACD turned positive in the final candle, aligning with price, but lacks the strength to confirm a strong uptrend.

Injective Protocol (INJUSDT) opened at $13.52 at 12:00 ET on 2025-08-25, fell to $12.71, and closed at $13.05 by 12:00 ET on 2025-08-26. Total 24-hour volume was 709,566.59, with $9.06 million in notional turnover.

Structure & Formations

Price action shows a bearish breakdown from $13.50 support into the $12.75–$12.85 range, where a key reversal pattern emerged. A bullish engulfing candle at 23:45 ET on 2025-08-25 signaled a potential short-covering rally. The 12:75–12:85 range appears to be the 61.8% Fibonacci retracement of the earlier 15-minute downswing, suggesting a likely area for near-term consolidation or a bounce.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMAs crossed below price during the selloff but began to converge with price in the final 6 hours. On the daily chart, price held above the 50-day EMA, currently at ~$13.15, while the 200-day EMA at ~$12.90 offers intermediate-term support.

MACD & RSI

The MACD crossed into positive territory late in the session, aligning with the price reversal. However, the histogram remains weak, indicating limited conviction. RSI moved from oversold (~28) to mid-range (~48) in the final hours, showing some short-term buying interest but not enough to confirm a strong reversal.

Bollinger Bands

Bollinger Bands contracted during the early part of the session before expanding sharply after the $12.75 support level. Price closed near the midline of the bands, suggesting a potential consolidation phase or a continuation of the upward bounce could occur.

Volume & Turnover

Volume surged during the selloff into $12.75, with over $50M in turnover during the 20:15–20:30 ET 15-minute candle, confirming the bearish move. However, a volume spike in the 02:15–02:30 ET window coincided with the reversal, indicating renewed interest. The divergence between volume and price at the end of the session suggests a cautious outlook.

Fibonacci Retracements

The 24-hour downswing from $13.59 to $12.71 saw price test the 61.8% level at $12.85, where a bullish reversal formed. On the daily chart, price appears near the 38.2% retracement of the broader bearish trend, suggesting a potential short-term floor.

Injective Protocol may continue to consolidate near current levels or test the $13.15–$13.20 zone in the next 24 hours. However, a retest of $12.85–$12.75 with weak volume could trigger renewed bearish momentum. Investors should monitor the 15-minute RSI and MACD for confirmation of any new trend.