#数字资产市场观察 💎 INJ this wave is a bit oversold.

I have been watching Injective for several days now, and to be honest, the position at $5.33 is quite tempting. The market has just gone through a round of bloodshed, but the long liquidation of INJ is only $296,000—what signal does this number reveal? The panic selling has basically cleared out.

The technical signals are very clear now: the 1-hour RSI has dropped to 22.2, and the 4-hour RSI is only at 26.7. This level of oversold has historically led to a rebound with over 80% probability within 48 hours. The MACD histogram at -0.057 shows that the bearish momentum is almost exhausted, and the price is just stuck at the lower support of 5.48.

What's more interesting is the derivatives market. The open interest has dropped by 2.41% to 60.6 million, indicating that the leverage has been mostly cleaned up; the funding rate of -0.034% means that those who are short are paying the longs. Furthermore, there are a bunch of short liquidation orders piled up around 5.83—if the price moves up, these orders will act as boosters.

The entry conditions are basically in place now: the price holds at 5.35, trading volume starts to increase, and RSI begins to climb from the extreme zone. If you're looking to position, the range of 5.30-5.40 is a good interval, with a stop loss set at 5.10 (about a 4.3% loss), and a target around 5.85 (potential return close to 10%). With 3x leverage, the risk-reward ratio can reach 2.28 to 1.

Of course, this is just a technical assessment. The market is always full of uncertainties, but based on the data, the probability of a corrective rebound this time is indeed not low.