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

Summary
• Price action on INJUSDT shows bearish dominance with a 5.51 24-hour low.
• Key support at 5.46 appears tested, with 5.35 forming a potential near-term level.
• Volume surged during the 14:30 ET breakdown, confirming a 15% drop in under 30 minutes.
• RSI hit oversold levels briefly, suggesting potential short-term rebound potential.
• Bollinger Bands have expanded, indicating rising volatility and possible consolidation ahead.

Injective/Tether (INJUSDT) opened at $5.55 on 2025-12-06 12:00 ET, peaked at $5.64, and closed at $5.46 as of 2025-12-07 12:00 ET, marking a 3.25% decline. Total volume traded was approximately 449,928.8 INJ, with notional turnover reaching ~$2,493,899 USD.

Structure & Formations

Price action on the 5-minute chart shows a bearish breakdown from the 5.56–5.58 resistance zone on the morning of 12/7, confirmed by a large bearish engulfing pattern at 14:30 ET. A 5.46 level appears to be the next probable support, aligning with a prior intraday pivot point.

Moving Averages

Short-term 20-period and 50-period moving averages on the 5-minute chart are both bearish, with price closing below both. On the daily timeframe, the 50-period SMA sits around 5.50, suggesting that a retest could trigger mixed reactions depending on volume.

MACD & RSI

MACD turned bearish in the afternoon with a negative crossover, while RSI briefly hit oversold levels (below 30) around 15:15 ET. However, without a strong reversal in volume or bullish candlestick patterns, this may represent a shallow rebound rather than a reversal.

Bollinger Bands

Bollinger Bands have widened significantly following the sharp decline, with price closing near the lower band. This suggests increased volatility and potential for consolidation or a test of the 5.40–5.45 zone.

Volume & Turnover

Volume spiked sharply during the breakdown at 14:30 ET, with over 46,419 INJ traded in that 5-minute window. Notional turnover also surged during this period, confirming the price action and ruling out a false breakdown.

Fibonacci Retracements

Applying Fibonacci to the 5.51–5.46 move, 5.44 is a key 23.6% retracement level, and 5.40 corresponds to the 38.2% level. These provide short-term support targets for potential bounces.

The price may find near-term support around 5.44–5.46 and test whether accumulation begins. Traders should remain cautious as volatility remains elevated and bearish momentum has yet to show a definitive reversal.