Market Overview: Injective/Tether (INJUSDT) on 2025-12-18

Summary
• Price tested key support at $4.60 and rebounded with a bullish engulfing pattern.
• Volume surged during the late-night rally, confirming strength in the upward move.
• RSI signaled oversold conditions early, followed by a clear reversal breakout.
• Bollinger Bands showed a contraction before the rally, suggesting increased volatility.
• Fibonacci retracement levels confirmed the $4.69 to $4.75 resistance cluster.

Injective/Tether (INJUSDT) opened at $4.62 on 2025-12-17 at 12:00 ET, hit a high of $4.883, a low of $4.54, and closed at $4.786 as of 12:00 ET on 2025-12-18. Total 24-hour volume was approximately 2,291,698.18 INJ, with a notional turnover of $10,723,145.

Structure & Formations

The price found critical support near $4.60, with a bearish rejection forming into a bullish engulfing pattern. Key resistance appears clustered between $4.69 and $4.75, with a breakout above $4.786 confirming renewed upside momentum.

Moving Averages and MACD

Short-term (20/50) moving averages on the 5-minute chart trended upward during the late-night rebound, aligning with the bullish reversal. The MACD showed a positive crossover and increasing histogram bars, supporting the momentum shift.

RSI and Bollinger Bands

RSI dipped into oversold territory early in the session, followed by a strong reversal. Bollinger Bands showed a period of contraction before the price break, signaling an impending move. Price remained above the 20-period MA, suggesting a continuation of the rally.

Volume and Turnover

Volume spiked during the late-night rally, especially in the 12:45–13:45 ET window, with a massive $93,943.17 in turnover as price surged to $4.883. The volume and price moved in alignment, confirming the strength of the move.

Fibonacci Retracements

The $4.54–$4.883 swing provided key retracement levels, with 61.8% aligning near $4.73 and 38.2% near $4.69. Price found resistance at these levels, confirming Fibonacci as a relevant tool for near-term structure.

The price appears to have re-established bullish momentum after bouncing off key support. A retest of the $4.75–4.78 area could offer a buying opportunity, with a cautious eye on potential pullbacks. Investors should be mindful of a possible consolidation phase if the $4.786 level fails to hold.