Market Overview: Injective/Tether (INJUSDT) – Bullish Consolidation and Volatility Expansion

• Price surged 2.7% on heavy volume, forming bullish patterns around $11.83.
• RSI and MACD signal positive momentum, with RSI near neutral and no overbought signal.
• Volatility expanded as price broke Bollinger Bands on high turnover.
• Fibonacci retracement levels suggest possible consolidation near $11.80–$11.86.
• Divergence in volume during pullbacks indicates cautious accumulation.

24-Hour Price and Volume Summary

Injective/Tether (INJUSDT) opened at $11.59 on 2025-09-26 12:00 ET, reached a high of $11.96, and closed at $11.79 as of 2025-09-27 12:00 ET. The 24-hour trading session saw a total volume of 457,357.69 INJ and a notional turnover of $5.36 million. Price action showed a clear bullish bias with several key 15-minute candlestick patterns forming in the afternoon and early evening hours.

Structure & Formations

Price found strong support near $11.75 and $11.80 during the overnight hours, with a bullish breakout above the upper Bollinger Band suggesting renewed buying interest. A notable pattern emerged between 18:15–18:45 ET, where a strong bearish reversal was followed by a bullish engulfing pattern, indicating accumulation. A morning pullback between 08:15–08:45 ET also formed a double-bottom structure, confirming $11.62 as a psychological floor for the pair.

Moving Averages and MACD / RSI

On the 15-minute chart, price spent much of the session above the 20-period and 50-period moving averages, with a slight bullish divergence in the MACD histogram from 20:00 to 22:30 ET. RSI remained in the mid-50 to 60 range, signaling moderate bullish momentum with no overbought conditions detected. This implies that while the move higher is gaining traction, it remains within a sustainable range.

Bollinger Bands and Volatility

Volatility expanded significantly in the early morning hours, with price breaking above the upper Bollinger Band and trading a full $0.13 away from the 20-period MA. This suggests increased optimism among traders, particularly after the strong move past $11.85. However, price later tested the lower band during a pullback, showing resilience near $11.75 and hinting at the presence of stop-buy orders in that range.

Volume and Turnover Analysis

Volume spiked during key price moves, particularly from 18:30 to 19:00 ET and again between 10:45 and 11:15 ET, confirming the bullish breakouts. However, the afternoon session saw a divergence between price and volume, with higher highs on declining volume, indicating a potential need for consolidation. Overall, notional turnover aligned with volume patterns, suggesting that most of the activity came from genuine price discovery rather than wash trading.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracements to the 15-minute swing high of $11.96 and the low of $11.62, key levels of interest include 38.2% at $11.81 and 61.8% at $11.87. Price appears to have tested and held above $11.80, suggesting that the next target for bulls could be $11.87. A breakdown below $11.75 would signal a deeper pullback and test of the $11.65–$11.62 support cluster.

Backtest Hypothesis

A potential backtest strategy for INJUSDT could involve a breakout-based approach triggered by a close above the upper Bollinger Band combined with a bullish MACD crossover. The recent session demonstrated that such a signal would have captured a meaningful portion of the upward move, especially from $11.75 to $11.96. However, the divergence seen in the afternoon highlights the need for volume confirmation before entering long positions. A stop-loss just below the 20-period MA or at $11.70 could have managed risk effectively. Testing this strategy over multiple 15-minute periods would provide clearer insights into its robustness.