Injective ETF Filing Drives 24% Surge as INJ Tests $7.88 Resistance
Injective (INJ)
Editor:
Eugene Serbin
tradersunion.com reports that Injective (INJ) has surged 23.95% to trade at $7.47, buoyed by robust short-term momentum above its key moving averages. The price action follows regulatory progress as the SEC received an amended S-1/A filing for the 21Shares Injective ETF, signaling concrete steps toward a Nasdaq listing. This filing introduces discretionary staking, which may enhance yield appeal and drive further institutional demand.
On the H1 chart, the asset is supported by the MA-20 at $6.71 and the MA-50 at $6.15, while the daily MA-200 sits at $4.46. Technical indicators like the MACD and ADX confirm buyer dominance, though the RSI at 75.98 and Stochastic RSI highlight overbought conditions. The Awesome Oscillator also supports the prevailing bullish trend, with Bull/Bear Power showing intraday buyer control.
Analysts project INJ/USD to trade between $7.06 and $7.88 over the next two to three days. A break above $7.88 could trigger a fresh leg higher, while a move below $7.06 might cause a short-term pullback.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 19 September 2026. Not the outlet's figures.
Whalio spot data shows INJ trading at $6.68, with a 1-hour buy ratio of 43.3% contrasting sharply with the 24-hour average of 52.1%. This drop in short-term buying pressure is reflected in a negative 1-hour volume delta of -$640,818, indicating net selling in the immediate term. However, the 4-hour buy ratio remains balanced at 51.6% with a positive volume delta of +$291,385, suggesting that medium-term buying is still active. The 24-hour volume delta of +$1,035,009 and a closing CVD of +$208,803 confirm that net buying has dominated the full day. Essentially, while immediate sellers are pressing against the price, the broader daily trend still favors buyers. The market is currently absorbing the recent surge with mixed short-term sentiment.
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 7-day average buy ratio was 49.3%, making today’s 24-hour ratio of 52.1% slightly above average by 2.8 points. Daily spot volume was 2.84 times the weekly average, indicating an unusual level of activity compared to normal trading days. Despite this volume spike, the 8-day volume delta was -$199,951, showing that cumulative selling pressure has outweighed buying over the longer period. The price has risen 16.3% over eight days, but the negative long-term delta suggests profit-taking or distribution. This day represents a high-volume, short-term bullish deviation from a slightly bearish weekly flow trend.