INJ Price Hovers at $4.88 as Smart Money Loads Up Against Retail Short Positions
The price of INJ is currently at $4.88, and the market is showing signs of tension as buyers and sellers are battling it out.
Despite the intraday range barely touching $5.00 before being pushed down, the token hasn't broken down either. Buyers are absorbing every dip with taker buy volume running nearly 24% heavier than sell volume on the hour.
The structural positioning underneath price is also noteworthy, with INJ trading above every meaningful moving average on the daily chart, including the 200-day. This kind of MA stack tells us that the macro trend has been cleaned up, and now we're waiting to see if the momentum can get off the floor to confirm the structure.
The sentiment analysis shows a divergence between retail traders, who are net short, and smart money, which is net long. With 55.8% of top traders holding long positions, there's potential for a classic short squeeze if price manages to get above $5.01.