Market Overview for Injective/Tether (INJUSDT): 24-Hour Analysis as of 2025-10-05

• INJUSDT formed a bullish reversal pattern after breaking below $12.50 and retracing higher, signaling potential short-term buying interest.
• Momentum accelerated upward in the final hours, with RSI nearing overbought territory and MACD confirming bullish momentum.
• Volatility spiked after a key support level at $12.50 was retested, with a 24-hour turnover surge of $1,554,608.
• A sharp bearish move to $12.33 followed by a 13% rebound suggests a consolidation phase ahead of further directional movement.
• Bollinger Bands showed a recent expansion, indicating heightened volatility and potential for a breakout or continuation.

Injective/Tether (INJUSDT) opened at $12.73 on 2025-10-04 at 12:00 ET, surged to a high of $13.11, and dipped to a low of $12.33, closing at $12.87 on 2025-10-05 at 12:00 ET. The 24-hour volume totaled 838,265.58 INJ, while the notional turnover reached $10,487,776. Price action was marked by a sharp selloff followed by a strong rebound, suggesting increased market participation and potential consolidation.

Structure & Formations

The 15-minute chart showed a key support level at $12.50, where the price found a strong base before bouncing over 13% in two candles. A bullish engulfing pattern formed during the 19:45–20:00 ET window, followed by a doji at $12.55, indicating indecision. A bearish flag pattern was visible during the early hours of 18:00–19:00 ET, with a sharp decline followed by a consolidation phase.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged around the $12.65–12.70 zone, where the price spent much of the session after the rebound. The 50-period MA acted as a dynamic support during the consolidation phase. On the daily chart, the 50/100/200-period MAs were closely aligned around $12.70–12.75, indicating a neutral to slightly bullish bias in the short term.

MACD & RSI

MACD crossed above the signal line during the 03:15–03:45 ET window, confirming a bullish momentum shift. RSI surged to 68–70 in the final hours of the session, nearing overbought levels but without a corresponding overbought divergence, which suggests buyers remained active. A bearish divergence was noted during the selloff from $12.75 to $12.33, but it failed to trigger a strong continuation.

Bollinger Bands

Bollinger Bands contracted during the consolidation phase from 19:45–21:15 ET, signaling a potential breakout. Price eventually broke out on the upper band during the 07:15–08:15 ET window, with volatility expanding sharply. The price closed near the upper band at the end of the 24-hour period, indicating strong bullish sentiment.

Volume & Turnover

Volume spiked during the selloff and subsequent rebound, peaking at 26,765.24 INJ during the 02:45–03:00 ET window. Turnover increased in tandem, particularly during the rebound from $12.50 to $12.87. Notable divergence occurred during the 19:00–20:30 ET window, where price moved lower while volume remained subdued, indicating potential exhaustion among sellers.

Fibonacci Retracements

A 38.2% Fibonacci level at $12.54 and a 61.8% level at $12.70 were retested during the session. Price held above the 61.8% level in the final hours, suggesting a potential target for continuation above $12.90. Daily retracements showed a key 50% level at $12.73, which the price held before closing above it.

Backtest Hypothesis

A backtesting strategy could look to enter long positions on a bullish engulfing pattern confirmation, with a stop-loss below the 20-period MA and a target aligned with the 38.2% and 61.8% Fibonacci levels. Given the 15-minute timeframe and the sharp volatility seen in the data, this setup may be best suited for traders seeking to capture short-term momentum. If the 20-period MA remains above the 50-period MA and RSI remains in the 50–70 range, the probability of a continuation to $12.95–13.10 increases. However, a breakdown below $12.50 could invalidate the setup and open the door to further downside.