Injective's native token INJ jumped 9.75% on Tuesday, hitting $7.14 as bullish momentum accelerates. The move comes amid a broader uptrend that has pushed the token into overbought territory, with the relative strength index (RSI) reading 78.82 — a level that often precedes a pullback or consolidation. Despite that warning, traders are eyeing a near-term target of $8.50 within the next two weeks, supported by strong positioning and technical structure.
Overbought but not done yet
An RSI above 70 typically signals an asset is overbought. At 78.82, INJ is deep in that zone. Historically, that can mean a short-term dip, but it can also accompany powerful trends that keep running. The key question is whether buyers can absorb selling pressure at current levels. So far, momentum has favored the bulls.
Resistance at the doorstep
The token now faces a critical test. Resistance sits directly overhead at the $7.14 area — the same level INJ hit during Tuesday's surge. A clean break above could open the path to $8.50, a price not seen since mid-May. If sellers defend that zone, the rally could stall. The next few sessions will determine which way the market leans.
Why $8.50 matters
The $8.50 target isn't pulled from thin air. Technical analysis of the current structure — including support levels and recent swing highs — points to that figure as a realistic upside objective within 14 days. It's roughly 19% above Tuesday's close. Whether INJ gets there depends on whether volume holds and resistance is cleared.
For now, the setup is bullish. But the overbought RSI is a flag worth watching. A pause or pullback wouldn't surprise experienced traders — but a breakout above resistance would confirm the trend is still building.
