INJ/USDT analysis: waiting for a sweep of the 8.34 highs, then a reversal toward 7.57–7.13
Injective has rallied into resistance. Scenario: a liquidity sweep above the 8.29–8.34 highs, rejection from the 8.34–8.54 supply zone and a move down to the 7.57–7.13 demand zone.
INJ climbed from the 6.85 area to 8.21 in one impulse and is now approaching the previous highs at 8.288 and 8.339. Above them sits the 8.34–8.54 supply zone, where stop orders and liquidity are stacked.
My plan is not to short blindly. I wait for the sweep: a spike above the highs that quickly closes back below them. From that reaction I look for the reversal, with the target in the 7.57–7.13 demand zone, the origin of the last impulse. The idea is invalid if price holds on the 1H above 8.54.
Risk: news is due this afternoon, so volatility can spike in both directions. I am not risking large volumes today: smaller size, a defined stop and no chasing the move.
Disclaimer: all materials are the author's personal opinion and are for educational purposes only. This is not financial advice. Crypto trading carries a high risk of loss — do your own research and never risk more than you can afford to lose.