Injective Rises 8.14% but Stays Below $8.02 Resistance

Injective (INJ) gained 8.14% over 24 hours before retreating from $7.91 to $7.65 at 4:50 a.m. ET (08:50 UTC) on Oct. 11, leaving the token below the cited $8.02 resistance level.

The market setup listed stronger resistance at $8.39. Support levels were set at $7.17 and $6.68, with $7.54 identified as the pivot.

The move extended TokenPost’s earlier coverage of Injective’s futures-market setup, which examined the token’s relationship with its moving averages and chart levels.

Market-positioning indicators showed mixed conditions at 4 a.m. ET (08:00 UTC). The one-hour taker buy/sell ratio was 0.5462, based on 236,172 units of aggressive selling and 128,992 units of aggressive buying.

Binance’s global account ratio showed 51.2% of accounts long and 48.8% short. Among top traders, 58.1% were long and 41.9% were short. The eight-hour funding rate was 0.0100%.

Technical readings included a 14-period relative strength index of 55.95 and stochastic readings of 64.64 and 51.71. The MACD and signal lines were both listed at 0.2381, with a zero histogram.

The seven-day and 20-day simple moving averages were $7.46 and $7.62, respectively. The 50-day and 200-day averages were $6.51 and $4.99.

A move above $8.02 could change the cited technical setup, while a decline below the $7.54 pivot could put $7.17 in focus.