The price of INJ token shot up 15.3% to hit $6.28, but the rally is starting to look stretched. Technical indicators now point to overbought conditions, and traders are bracing for a short-term correction before any further upward moves.
RSI Hits 73 as Momentum Stalls
INJ's relative strength index — a widely watched momentum gauge — climbed to 73. Readings above 70 typically signal that an asset is overbought and due for a pullback. The surge pushed the token into that territory, and with momentum now stalling, the pace of buying appears to be fading.
The 15.3% jump came on strong volume, but the RSI's current level suggests that much of the near-term buying pressure has already been absorbed. Without fresh catalysts, the token may struggle to hold those gains.
What the Charts Say About the Next Move
Technical analysts expect INJ to retrace to the $5.40 support zone before any renewed upward push. That level represents a roughly 14% drop from the recent high, a move that would help reset the overbought RSI and shake out weaker hands.
A correction to $5.40 would not break the broader bullish structure, according to the data. Instead, it would provide a cleaner entry point for buyers looking to ride the next leg higher.
Target Price of $9 on the Horizon
Once the expected pullback plays out, the projected target sits at $9 per token. That implies a potential gain of about 67% from the $5.40 support level — or roughly 43% from the current $6.28 price — if the recovery materializes as chart patterns suggest.
The $9 target is based on the same technical framework that flagged the overbought condition. No timeline is specified for the move, and the projection depends on the correction holding above key support.
Whether the token reaches that level will likely depend on broader market sentiment and any protocol-specific developments. For now, traders are watching the $5.40 line as the first real test of the uptrend's durability.
