Accelerated exchange deposits weigh on Injective price as sellers dominate

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Injective slides 7.08% to $8.13 today

Highlights

Injective experienced a rise in net token deposits to centralized exchanges, increasing available supply and sell-side pressure.
Reported 24-hour trading volume of $132.61 million is likely inflated by wash trading, with genuine demand overstated.
INJ trades below short- and medium-term moving averages and technicals indicate strong downside momentum, with a projected range of $7.77 to $9.66 for the next 2 to 3 days.

Sell pressure intensifies as exchange deposits rise and volume distorts

Injective saw an acceleration of net token deposits into centralized exchanges over the past two days, boosting the available supply for sale and contributing to increased sell-side pressure. At the same time, 24-hour trading volume was reported at $132.61 million, though Coincu noted this figure is likely heavily inflated by wash trading activity, suggesting that a meaningful portion of the apparent volume may not reflect genuine demand. Distorted liquidity conditions from such volume patterns can undermine market confidence, amplifying the impact of increased sellable supply during periods of heightened volatility.

Bearish momentum signals as price holds below key averages

INJ/USD is trading below the MA-20 and MA-50 on the h1 chart, with price remaining above the MA-200. The Ichimoku Kijun sits at $8.49 as immediate resistance. Momentum indicators support a bearish profile: MACD and ADX are on Sell signals, and both RSI (35.88) and CCI are in Sell territory. Stochastic RSI is Neutral, while Bull/Bear Power shows continued dominance from sellers.

Downside risk dominates as reversal requires breakout above resistance

Over the next 2–3 trading days, the expected price range is $7.77 to $9.66. With a low probability for upward movement and high likelihood of further downside, the baseline scenario is continued sideways action within this band. A move above $8.49 would be needed to trigger a short-term bullish reversal, while a drop below support levels raises the risk of further declines toward $7.77.

Anton Kharitonov, expert at Traders Union, sees prevailing sell-side risks for Injective. He highlights that increased token deposits to exchanges and unreliable trading volumes undermine market confidence. Technical signals remain bearish with no sign of reversal yet. "Base case remains sideways down within the $7.77–$9.66 range — I remain defensive until $8.49 breaks on strength."

Previously it was reported that Injective had maintained upward momentum and institutional focus, underscored by efforts to launch a Korean won-pegged stablecoin for regulated market participants. However, current technical and on-chain signals now point to sustained downside risk, making a decisive move above immediate resistance at $8.49 essential for any meaningful bullish reversal in the near term.

Source of Data: INJ Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.