INJ Price Plummets as Retail Traders Load Up on Shorts
September has not been kind to INJ, which is trading at $4.83, having hemorrhaged 3.75% in 24 hours. Its price is wedged beneath a cluster of short-term moving average resistance, and momentum has completely flatlined. The stochastic sits in the lower half of its range at 38.70/%K, and while the RSI at 47 isn't screaming oversold yet, it has room to slide before reaching capitulation territory.
The Immediate Setup shows INJ in a precarious no-man's land. Price has slipped below all short-term averages, including the SMA 20, SMA 50, EMA 12, and EMA 26, which are clustered between $4.87 and $5.05. The momentum picture is worse, with the MACD histogram reading zero.
Retail traders on Binance Futures are running a meaningful 56.6% short on INJ right now, setting up classic squeeze conditions if any positive catalyst hits. However, whales aren't pounding the table on a directional bet, and the taker buy/sell ratio shows sell-side aggression is marginally winning in the spot market.