INJ, the native token of the Injective Protocol, is pushing toward a key resistance level at $6.70. Data shows the Relative Strength Index (RSI) has climbed to 73, a reading that typically suggests the asset is overbought. Whale accumulation remains heavy, with 62% of open positions leaning long. The pattern points to a possible run to $7.50 before a pullback, according to market indicators, with a correction likely to test support near $5.80.
The $6.70 resistance test
That price zone has acted as a ceiling in recent trading sessions. Breaking through it would open the door to the $7.50 target, but failure could trigger a rapid reversal. The token is currently hovering just below the level, drawing attention from short-term traders who watch for breakouts or rejections. Volume patterns suggest buyers are still in control, though the margin is tightening.
RSI in overbought territory
An RSI of 73 is above the classic threshold of 70, which often precedes a price correction. The indicator alone doesn't guarantee a downturn, but combined with the proximity to resistance, the risk of a pullback increases. Some traders interpret overbought readings as a signal to take profits, especially when a key resistance level is nearby. The last time INJ's RSI hit 73, the token saw a 12% decline over the following week, though past performance is not a reliable predictor.
Whale positioning leans long
Large holders, often called whales, maintain a bullish stance. Data shows 62% of long positions are held by addresses with significant token amounts. That concentration can amplify moves in either direction: if sentiment shifts, those same whales could accelerate a sell-off. For now, the accumulation suggests confidence in the token's near-term trajectory, but the overbought reading raises questions about how much fuel is left in the rally.
Where INJ could go next
The immediate question is whether the token can clear $6.70. If it does, the path to $7.50 becomes the next logical target. A failed breakout, however, would likely send prices back to $5.80, a level that has provided support in recent weeks. That zone aligns with the 50-day moving average, adding weight to its importance. Traders are watching the $6.70 level closely this week.
