INJ Price Jumps 9.73% Amid Short Squeeze Concerns

The INJ price has seen a significant surge of nearly 10% in just 24 hours, reaching $5.62. However, this rapid increase has left some wondering if it's a sign of genuine buying pressure or simply a short squeeze.

According to Joerg Hiller, the market is currently experiencing a classic short-squeeze fingerprint, where price rises while open interest drops. This combination often indicates that someone got squeezed out and the market is now waiting to see if real buyers will step in to replace them.

The full moving average stack for INJ is bullish across every timeframe, with the 200-day SMA sitting at $4.31 as a distant floor. The taker buy/sell ratio of 1.18 also confirms aggressive spot-side buying pressure in the short term.

However, momentum, as measured by the MACD histogram printing dead flat at zero, is already waving a yellow flag. This suggests that the surge in price hasn't been matched by an acceleration in momentum, it's been matched by a stall.