Market Overview for Injective/Tether (INJUSDT) on 2025-09-15

• INJUSDT traded in a 13.53–14.32 range over 24 hours, closing 0.39% lower near $13.85.
• Volatility surged in early morning trading, but price failed to retest prior highs.
• Volume spiked 23.6x in the 7:45–8:00 ET window, amid a sharp $0.49 drop.
• RSI entered oversold territory below 30, while MACD signaled bearish divergence.
• Bollinger Band contraction suggested a potential breakout or reversal ahead.

Injective/Tether (INJUSDT) opened at $13.96 on 2025-09-14 at 12:00 ET and closed at $13.85 the following day at the same time. The pair hit a high of $14.32 and a low of $13.53 over 24 hours. Total volume reached 473,343.92 INJ, while notional turnover amounted to $6,544,068.08.

Structure & Formations

Price action over the 24-hour period displayed a bearish bias, especially in the final 6 hours. A bearish engulfing pattern formed at 07:45–08:00 ET, following a failed rally. Key support levels were observed near $13.90 and $13.65, both of which saw price bounce back modestly. A doji formed at 09:45 ET near $13.66, indicating indecision after a sharp decline.

Moving Averages

On the 15-minute chart, the 20-period SMA sat just below the 50-period SMA, confirming a bearish crossover. On the daily chart, the 50-period MA was above both the 100- and 200-period MAs, suggesting intermediate-term bearish bias. Price closed below the 50-period MA on the daily chart, reinforcing the bearish trend.

MACD & RSI

The MACD line crossed below the signal line, showing bearish momentum. RSI dropped into the oversold zone (<30) after the sharp decline in the early morning, but failed to show a bullish rebound. This divergence suggests further downside could be imminent.

Bollinger Bands

Bollinger Bands tightened significantly between 03:00–06:00 ET, signaling a potential breakout. Price broke lower at 07:45 ET and closed below the lower band, confirming a bearish expansion in volatility.

Volume & Turnover

Volume surged dramatically at 07:45–08:00 ET, coinciding with the largest price drop of the day. Turnover increased by 23.6x compared to average levels, confirming a significant liquidation event. However, price failed to follow through on the earlier rally between 05:00–06:00 ET, suggesting a lack of conviction.

Fibonacci Retracements

Applying Fibonacci to the 07:45–08:00 ET move, price found temporary support at the 38.2% level ($13.75) before declining further. The 61.8% level sits at $13.65, which may act as a short-term floor.

Backtest Hypothesis

The backtesting strategy aims to identify overextended bearish divergences in RSI and MACD while confirming price action with volume spikes. If price falls below $13.65 and closes below the 50-period SMA, a short entry with a stop above the 61.8% Fibonacci level ($13.84) could be triggered. A target would be set at $13.48, using the next major support level identified from the Bollinger Bands. This approach seeks to capitalize on the current bearish momentum while mitigating risk with a defined stop-loss.