Injective price dips 7.5% as INJ tests $5.48 support
Injective (INJ)
Editor:
Eugene Serbin
tradersunion.com reports that Injective (INJ) is trading at $5.67, marking a sharp daily decline of 7.47%. The asset remains positioned below its key moving averages, reflecting persistent downward pressure in the short and medium term. Injective Protocol completed its IIP-677 mainnet upgrade to version 1.20.3, which integrated significant cross-chain interoperability and reduced block times.
The upgrade also enhanced staking mechanics and launched Injective Mint for SEC- and MiCA-compliant tokenized securities. These developments broaden the platform’s technical scope and position it to accommodate institutional and regulatory-driven demand. Additionally, Injective’s blockchain has facilitated the registration of over $1.1 billion in residential mortgages.
Despite these positive developments, price action has remained under broader selling pressure. INJ/USD is trading below both the MA-20 and MA-50 on the H1 chart while remaining above the MA-200. Momentum indicators including MACD and Awesome Oscillator continue to show selling pressure, while ADX remains neutral.
Oversold readings are present across RSI at 35.79, Stoch RSI, and CCI, reflecting that the selling may be overextended. Bull/Bear Power confirms seller dominance for the session, and the price is near its intraday low. Over the next two to three sessions, INJ/USD is likely to consolidate sideways within a projected volatility band of $5.48 to $5.86.
The probability of an upward reversal stands at 23%, with the dominant risk remaining to the downside. Sustained consolidation is expected unless price action decisively breaks above $6.17 resistance. A move below $5.48 would increase the risk of further selling pressure developing.
Earlier, analysts noted that Injective was exhibiting sustained bullish momentum driven by expanding protocol adoption and technical improvements. The current deterioration in price action, despite ongoing network upgrades and real-world asset integration, signals that downside risks now dominate. A decisive move below $5.48 is a key level to watch for potential further weakness.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 15 September 2026. Not the outlet's figures.
Injective is currently trading at $6.29, with a 1-hour buy ratio of 46.2% and a 4-hour buy ratio of 41.0%. These short-term figures are lower than the 24-hour buy ratio of 53.0%, indicating that buying pressure is fading in the immediate term. The 1-hour volume delta is -$64,073 and the 4-hour volume delta is -$624,248, showing net selling in the short term. In contrast, the 24-hour volume delta is +$646,348, reflecting net buying over the full day. The cumulative volume delta (CVD) at the 24-hour close is -$553,719, suggesting that selling pressure has outweighed buying pressure by the end of the period. Spot volume over 24 hours is $10,698,937 across 161,847 trades. Net buying occurred in 13 of the 24 hours, indicating mixed sentiment throughout the day.
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.
The 24-hour buy ratio of 53.0% is slightly higher than the 7-day average of 52.2%, representing a difference of 0.8 percentage points. This suggests that today's buying activity is marginally above the recent average. However, the spot volume of $10,698,937 is only 0.82x the weekly average, indicating lower-than-normal trading activity. Over the preceding week, there were 6 days of net buying out of 7, with a total volume delta of +$5,120,620. The price change over the 8-day period is +1.6%, showing modest growth despite today's dip. This context indicates that while today's volume is subdued, the recent trend has been predominantly positive with consistent net buying days.