Injective (INJ) prices show signs of stabilization following recent market fluctuations. This article examines the current situation and short-term forecasts.
Current Situation in the Injective Market
Currently, INJ is trading around $13.81 after a drop to $11.90 last week. Traders are awaiting the potential for upward movement in the coming days.
Market Indicators and Overall Sentiment
Trading volume has decreased significantly compared to early August and is around 30 million. Open interest stands at 2.56 million, with short positions (3.81 million) outnumbering long ones (3.17 million), indicating a cautious market sentiment.
Short-Term Price Outlook for INJ
In the next 24–48 hours, key levels to watch are $14 on the upside and $13.50 on the downside. A breakout above $14 could signal a rally towards $15 or $15.50, while a drop below $13.50 could lead to levels around $12.50.
The situation in the Injective market remains uncertain, and the coming days will reveal whether the token can break out of its current range.
