Market Overview for Injective/Tether (INJUSDT)

Summary
• Price fell from $5.03 to $4.70 with a strong bearish close near session lows.
• Key support at $4.70–$4.74 held through heavy volume, but momentum remains bearish.
• Bollinger Bands widened significantly during a late-ET sell-off, signaling increased volatility.
• MACD turned bearish with a negative crossover and RSI entered oversold territory below 30.
• Volume spiked sharply during the final 90 minutes of the 24-hour window, indicating a large distribution phase.

Injective/Tether (INJUSDT) opened at $5.00 on 2025-12-16 12:00 ET, reached a high of $5.08, touched a low of $4.67, and closed at $4.74 on 2025-12-17 12:00 ET. Total 24-hour volume was 457,754.55 INJ, with a notional turnover of approximately $2,224,023 (based on weighted average pricing).

Structure & Formations

The price action formed a sharp bearish trendline from $5.03 to $4.67, with key support levels identified at $4.70 and $4.74 on the 5-minute chart. A long bearish candle with a large body formed at the session low, signaling exhaustion near $4.67–$4.70. The pattern suggests short-term support may hold, but further breakdown below $4.67 could accelerate the decline.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both declined in tandem with price, reflecting strong downward bias. Daily moving averages (50/100/200) indicate a bearish alignment with the current price, reinforcing a continuation of the sell-off.

MACD & RSI

MACD turned bearish with a negative crossover late in the session, confirming the strength of the sell-off. RSI dropped into oversold territory below 30 at $4.67, but without a clear rebound, suggesting momentum remains weak. A rebound above $4.90 would be necessary to reverse the bearish momentum.

Bollinger Bands

Volatility expanded significantly during the late ET sell-off, with Bollinger Bands widening as price broke below the lower band at $4.67. The widening suggests increased uncertainty and potential for further volatility. Price may remain within the new channel until the 20-period MA shifts to a bullish bias.

Volume & Turnover

Volume surged from $4.82 to $4.70, with a massive 88,414.87 INJ traded at $4.70–$4.74, signaling a distribution phase. Notional turnover also spiked during the final 3–4 hours of the session, with a large block of selling pressure pushing price below $4.70. The divergence between price and volume at the session high suggests buyers were reluctant to defend key resistance levels.

Fibonacci Retracements

Applying Fibonacci to the key 5-minute swing from $5.03 to $4.67, price found support at the 78.6% level around $4.70 and the 61.8% level near $4.80. On the daily chart, the 38.2% level at $4.88 may act as a near-term resistance if buyers re-enter.

Injective/Tether has shown strong bearish momentum with multiple confirming signals from volume, MACD, and price action. While the current support at $4.70 may hold, traders should remain cautious for further breakdowns. A rebound to test $4.85–$4.90 could signal a short-term stabilization, but any weakness below $4.67 would raise concerns for deeper declines ahead.