Injective's Bull Run Hits Overbought Territory, Traders Warn of Imminent Correction

Injective (INJ) has been on a tear, trading above every major moving average and showing structural bull trend characteristics. However, the same price action that looks impressive on a weekly chart is flashing caution signals in the short term.

The daily range today shows sellers defending the high against the upper Bollinger Band, with the 24-hour move of just 0.28% on $22.4 million in Binance spot volume indicating that the easy money from this leg is already made.

The technical picture is a textbook case of a bull trend hitting an overbought wall, with RSI at 70.63 and MACD histogram flatlining at zero. The short-term setup leans toward mean reversion rather than continuation.