Injective Trades Below $8.90 Level After a 7% 24-Hour Drop

Injective (INJ) traded below $8.90 on Oct. 22, putting an earlier bullish technical condition in focus as the token’s 24-hour decline reached 7% in a morning snapshot.

At 7:37 a.m. ET (11:37 UTC), INJ was $8.15, down 7% over the previous 24 hours, in a later market snapshot. The reading placed the token below $8.90, a threshold the earlier setup treated as necessary for its bullish scenario to remain intact.

Crypto analyst Parshwa Turakhiya wrote in an Oct. 16 analysis, “INJ holds its breakout as long as daily closes stay above $8.90.” The earlier scenario also put $9.50 and $10 in view if daily closes remained above the threshold.

The condition depended on a daily close, so the morning price alone does not show whether it was met. An intraday move below $8.90 established that INJ had crossed under the level during the session, but not that the close-based requirement had failed.