INJ's 11.6% Surge Triggers Breakout vs Bull Trap Debate

INJ has surged by 11.6% in a single session to $6.21, but this move has created uncertainty about whether it's a breakout or a bull trap.

The asset is now facing a hard resistance cluster between $6.44 and $6.68, with the Bollinger Band sitting at $6.66 and strong resistance confirmed at $6.68.

Despite this, smart money seems to be buying what retail is shorting, as the global long/short ratio sits at 0.90, meaning the broad retail crowd is slightly net short at 52.5%.

The derivatives market indicates that top traders, or whales, are running 55.6% long with a ratio of 1.25, which diverges from the retail crowd in opposite directions and signals that smart money is leaning into this move.