Injective rises 18% on 21Shares ETF filing and technical strength
Injective (INJ)
Editor:
Eugene Serbin
Tradersunion.com reports that Injective (INJ) surged 18.34% following momentum around the SEC's review of 21Shares' amended application for a Nasdaq-listed ETF. The proposed fund, tracking the INJ token under ticker TINJ, aims to passively follow the FTSE Injective Index and may include discretionary staking to enhance returns while meeting regulatory standards. This filing follows 21Shares' earlier launch of a European INJ Staking ETP product line and marks a potential step toward traditional market exposure for the asset.
Technical analysis shows INJ trading decisively above key moving averages, including the $5.57 MA-20, $5.10 MA-50, and $4.46 MA-200. This alignment confirms underlying long-term strength with immediate resistance at $7.54 and support at $6.98. Momentum indicators such as the MACD and ADX signal a buy, while the RSI sits at 64.13 with a buy forecast.
The CCI and Bull/Bear Power highlight overbought territory, with Bull/Bear Power at 1.17 indicating that buyers control intraday momentum. Despite neutral readings from the Stochastic RSI and Awesome Oscillator, the price advanced $1.16 after a 5.2% gap up, closing near intraday highs with elevated volatility. Analysts note that institutional developments and innovative staking features support this strong bullish momentum.
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 data shows INJ trading at $6.68 with a 24-hour buy ratio of 52.1%, indicating that buyers held a slight edge over sellers over the full day. This contrasts with the 1-hour buy ratio of 46.8%, suggesting that short-term buying pressure has faded compared to the daily average. The 4-hour buy ratio of 51.6% sits between these two extremes, showing a more balanced but still positive sentiment in the medium term. Volume Delta turned positive at +$291,385 for the 4-hour period and +$1,035,009 for the 24-hour period, meaning net buying volume exceeded net selling volume during these windows. However, the 1-hour Volume Delta was -$100,539, indicating a brief period where sellers dominated the flow. The Cumulative Volume Delta (CVD) for the 24-hour close was -$549,065, showing that despite higher buy ratios, the total volume of sell orders exceeded buy orders over the full 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.
Over the preceding week, the 7-day average buy ratio was 49.3%, making today's 24-hour ratio of 52.1% an unusual day with 2.8 percentage points more buying activity than usual. Spot volume for the day reached $25,748,475, which is 2.84 times the weekly average, signaling significantly heightened participation. While the 24-hour Volume Delta was positive, the 8-day total Volume Delta was -$199,951, indicating that over the longer period, selling pressure outweighed buying pressure. The price increased by 16.3% over eight days, reflecting the strong upward trend driven by the ETF news. Net buying occurred on only 3 of the 7 days, suggesting that the recent surge is part of a broader, intermittent accumulation pattern rather than a consistent daily uptrend.