Injective burns INJ as rally targets $9.34 resistance
Injective (INJ)
Editor:
Eugene Serbin
tradersunion.com reports that Injective (INJ) is trading at $8.5 following a daily gain of 10.29%. The asset has launched a Community BuyBack program, burning over $270,000 worth of INJ to reduce its circulating supply. This initiative distributes ecosystem revenue to token holders to increase utility and rewards.
Additionally, the Stockdrop initiative awards tokenized stocks to participants to drive engagement. Technically, INJ/USD trades above the MA-20 and MA-50 on the h1 chart. It significantly exceeds the MA-200 at $4.58, with immediate support at the Ichimoku Kijun level of $7.91.
Resistance is identified at $9.34, while the MACD shows a Buy signal. Analysts note that these innovative programs and robust trends position the asset for continued bullish momentum. The baseline scenario expects consolidation between $7.9 and $9.34 over the next two to three days. A decisive breakout above $9.34 would suggest further upside, while a break below $7.91 could lead to a pullback.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 24 September 2026. Not the outlet's figures.
Whalio data shows INJ trading at $7.80, with a 1-hour buy ratio of 40.8% indicating short-term selling pressure. This contrasts with a 4-hour buy ratio of 52.1%, suggesting that buying interest is building over a slightly longer timeframe. The 24-hour buy ratio stands at 46.9%, reflecting a more balanced but slightly bearish sentiment over the full day. Volume delta data reveals a net outflow of $204,560 in the last hour and a net outflow of $1,630,953 over 24 hours. However, the 4-hour volume delta shows a net inflow of $308,381, indicating that larger timeframes are seeing accumulation. The cumulative volume delta (CVD) for the 24-hour close is positive at $346,662, showing that net buying pressure has occurred over the day despite recent outflows.
The latest daily buy ratio of 53.4% sits at the 91st percentile of the last 322 days, against a median of 49.8% - among the strongest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for INJ, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.1%, while the latest day saw a ratio 3.2 points lower. This indicates that today's buying activity is slightly weaker than the weekly average. Spot volume was 1.32 times the average, showing that trading activity is unusually high compared to normal days. The coin has seen a price change of +44.2% over the last 8 days, with a total volume delta of -$257,173. Only 3 of the last 7 days experienced net buying, suggesting that the recent rally has been intermittent rather than consistent.