Injective's Price Hits Resistance at $5.14

Injective's price has reached $5.00, reclaiming every major moving average and forming a textbook bullish stack.

This alignment suggests that the trend has genuinely turned since the lows, but it also means that the easy money has already been made.

The problem is convergence pressure, with the price sitting at 87% of the way up the Bollinger Band range and facing resistance at $5.14.

A stochastic %K at 97 indicates overbought conditions on a short-term basis, while the MACD histogram has flatlined at zero, showing that momentum has stalled.

The derivatives picture is more promising, with spot volume clearing $12.3 million in the past 24 hours and an active taker buy/sell ratio of 1.15.

However, open interest dropped 1.54% over the same session, suggesting that short covering rather than fresh long positioning is driving the rally.

The long/short split shows a divergence between retail and top traders, with whales sitting net long while retail is slightly net short.

According to the source, INJ has a 60% probability of printing a daily close above $5.14 within the next three to five days, driven by whale-long positioning and active taker buying pressure.