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

Summary
• Price rose from $5.16 to $5.43 before retracing slightly.
• Momentum shifted from bullish to bearish after midday, with RSI nearing overbought levels.
• Volume spiked during the early bull move but has since declined, raising divergence concerns.
• Bollinger Bands show moderate volatility with price near the upper band.
• A potential bearish engulfing pattern formed near $5.39, suggesting near-term resistance.

Injective/Tether (INJUSDT) opened at $5.16 on 2025-12-12 12:00 ET and reached a high of $5.43 by the next day. It closed at $5.39 with a low of $5.16. Total 24-hour volume amounted to 298,602.12 INJ, and notional turnover was approximately $1,598,527.

Structure and Candlestick Patterns

The 5-minute chart shows a strong bullish impulsion from $5.16 to $5.43, marked by multiple higher highs and higher closes. A bearish engulfing pattern formed near $5.39 as the price closed lower than the opening after a bullish session. The formation may suggest a potential short-term reversal or consolidation. Key support levels appear near $5.35 and $5.25, while resistance is in the $5.40–$5.43 range.

MACD and RSI Momentum

MACD remained positive during the early bull move, confirming strength in the upward trend. However, a bearish crossover occurred as momentum weakened later in the session. RSI approached overbought territory (above 70) during the peak at $5.43 and has since corrected. This indicates that further upward momentum may be limited unless bullish volume returns.

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Bollinger Bands and Volatility

Bollinger Bands showed a moderate expansion during the bullish phase, with price touching the upper band. As volatility declined post-peak, the bands contracted slightly, indicating potential consolidation or a possible test of the lower band in the next 24 hours.

Volume and Turnover Divergence

The initial bull move saw significant volume surges, particularly between $5.30 and $5.43, suggesting strong institutional or retail participation. However, volume declined as price corrected near $5.39, which could indicate a lack of follow-through buying and a risk of further pullback.

Fibonacci Retracements

On a 5-minute swing from $5.16 to $5.43, the 61.8% Fibonacci retracement level sits at $5.32, and the 38.2% level is at $5.37. Price appears to have stalled near $5.39, which could either serve as a pivot for a new bullish phase or as a point for profit-taking.

Injective/Tether may find its next direction by either breaking above $5.43 with strong volume or by testing the $5.32–$5.35 support zone. Traders should monitor divergence between price and RSI as a sign of weakening momentum. Forward-looking participants should brace for increased volatility if a breakout or breakdown occurs.