🪙$INJ Token Alert: $1.0062K Short Liquidation Sparks $3.354 Upsurge
INJ token just witnessed a notable short liquidation of $1.0062K at $3.354, igniting sudden bullish momentum and creating a ripple across traders’ positions. The forced liquidation shows that bearish traders could not maintain their shorts as buying pressure accelerated, pushing the token upward rapidly. Chart analysis highlights a breakout above immediate resistance near $3.34, accompanied by a sharp spike in trading volume, confirming strong market participation. The Relative Strength Index (RSI) is climbing toward 66, signaling healthy bullish energy while approaching overbought conditions. The MACD line has crossed above the signal line, reinforcing short-term upward momentum and hinting at potential continuation if buyers remain active. On-chain data indicates accumulation by mid-size holders around the $3.34–$3.36 zone, suggesting support for further gains. Bollinger Bands have widened, reflecting increased volatility and the likelihood of sharp swings in the near term. Immediate support levels are now around $3.33 and $3.32, while resistance may appear near $3.37–$3.38 if buying continues. This short squeeze highlights INJ’s dynamic market activity, offering both opportunity and caution for traders as the market absorbs liquidations and positions itself for the next move.
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