Injective Price Rally Meets Resistance as Bulls Face Uncertain Future

Injective (INJ) has been on a tear, rising nearly 74% from its SMA 200 at $4.58 and displaying relative strength in a market where most Layer-1 altcoins are struggling.

The short-term setup is getting sloppy, however, with the 24-hour candle showing a range of $7.56 to $8.34, which means price tagged the upper Bollinger Band and got slapped back.

Traders are watching closely as INJ is parked right on its pivot at $7.95, with the next 12 hours crucial in determining whether this is healthy consolidation or the start of a more meaningful unwind.