INJ's price rose nearly 10% in 24 hours, but the move is already running out of room. Momentum is stalling at $5.92, and overbought oscillators alongside aggressive spot selling point to a near-term fade to $5.48 support. If that level holds, the next target sits at $6.50.
The stall at $5.92
The 24-hour gain was sharp, but the price has flattened right at $5.92. That's where buying pressure has thinned. The token is not breaking higher, and the rate of the rise is slowing. This is the kind of level where the market takes a breather before deciding on the next move.
Overbought oscillators and spot selling
Technical readings are stretched. Oscillators are in overbought territory, which historically signals a higher chance of a correction. Spot selling has also been aggressive, meaning traders are taking profits into the rally. That combination rarely produces an immediate breakout. The path of least resistance is down to the nearest support at $5.48.
After the fade to $5.48
If $5.48 holds as support, the rally can resume. The price target after the pullback is $6.50. That's a meaningful gain from current levels, but it's not a straight line. A break below $5.48 would change the setup. That would delay or possibly kill the $6.50 target, and the market would have to find a lower floor first.
Whether $5.48 holds under the selling pressure is the key question. It's a level that could determine if the next leg is a push to $6.50 or a deeper retrace. The coming sessions will show which side wins.
