Market Overview: Injective/Tether (INJUSDT) 24-Hour Analysis

Summary
• Price surged from $5.39 to $5.87 on strong volume, forming a bullish engulfing pattern near key resistance.
• Momentum accelerated in the 4–9 AM ET window, with RSI approaching overbought territory.
• Volatility expanded, with price reaching +7.5% above Bollinger Band midline, suggesting heightened short-term tension.
• Turnover spiked above $250,000 during the bullish breakout, confirming accumulation in late afternoon.

Injective/Tether (INJUSDT) opened at $5.39 at 12:00 ET – 1, surged to a high of $5.87, and closed at $5.72 at 12:00 ET, with total volume of 451,536.89 and turnover of $2.49 million. The price action revealed aggressive accumulation and a bullish reversal, supported by strong volume and momentum.

Structure & Formations

The price broke above a prior 5.75–5.77 resistance cluster with a strong bullish engulfing pattern on the 15-minute chart. A key support level at 5.62–5.64 showed resilience during the late sell-off. A morning doji at 5.76–5.74 hinted at a temporary pause in momentum, but the overall trend remained clearly bullish.

Moving Averages

On the 5-minute chart, price outperformed the 20-period and 50-period moving averages for much of the session, with a notable cross above 5.73. Daily moving averages (50/100/200) were not directly referenced in the 5-minute data, but the 5.73–5.77 level appears to have transitioned from resistance to potential short-term support.

MACD & RSI

The MACD showed a strong positive divergence in the late afternoon and early evening, confirming the surge in bullish momentum. RSI reached 68–69 in the 9–10 AM ET window, indicating near overbought conditions. However, the RSI did not yet confirm a top formation, suggesting buying pressure could persist.

Bollinger Bands

Volatility expanded significantly from 7 AM to 9 AM ET, with price hitting 5.87 at 9:15 AM, +7.5% above the 20-period Bollinger midline. Price retracted toward the upper band in the afternoon and settled near the midline by 12:00 ET, indicating some profit-taking but strong underlying bullish intent.

Volume & Turnover

Volume spiked above 25,000 in the 9 AM to 10 AM ET window, coinciding with a breakout above 5.75. Turnover reached $253,097 at 9:15 AM, the highest of the session, supporting the bullish move. A divergence appeared in the late afternoon as price dipped toward 5.62–5.65, but volume remained strong, suggesting a test rather than a breakdown.

Fibonacci Retracements

Fibonacci levels for the 5.39–5.87 move indicated key retracement levels at 5.69 (38.2%) and 5.58 (61.8%). Price held above 5.62 in the final hours, suggesting that a retest of the 5.69 level could reinforce a continuation of the bullish trend.

The market appears to be in a consolidation phase following a strong reversal. While the near-term momentum supports further upside, a pullback to 5.62–5.64 could test the strength of the breakout. Investors should monitor the 5.69–5.71 level for confirmation of a sustained rally, with caution warranted in case of a breakdown below 5.62.