INJ rocketed 18% higher in the latest session, pushing its Relative Strength Index to an extreme reading of 87. The token now faces a make-or-break test at the $6.30 resistance level, a barrier that has historically triggered sharp reversals or explosive breakouts.
Why the RSI reading matters
A Relative Strength Index above 70 is typically considered overbought, but a reading of 87 signals that buying pressure has been unusually intense. In the past, such extreme RSI levels have often preceded a sharp pullback or a continuation rally if momentum remains strong. For INJ, the question is whether the current buying wave can sustain itself or if profit-taking will accelerate.
The $6.30 wall
The $6.30 price point has acted as a stiff ceiling in recent trading. Multiple attempts to clear it have failed, and the latest surge has brought INJ right to this threshold. A clean break above $6.30 with strong volume could open the door for a sustained upward move. On the other hand, a rejection at this level could trigger a rapid sell-off.
What a rejection could mean
If INJ fails to hold above $6.30, traders are eyeing a potential 24% correction that would bring the price down to $4.25 support. That level has served as a floor in previous downturns and would be the next line of defense if the resistance holds. The market is now watching closely for the next move.
For now, the battle lines are drawn. Whether INJ breaks through or bounces off $6.30 will likely set the tone for the next several trading sessions.
