INJ Technical Analysis Feb 4

INJ, at its current price of 3.46$, is closely approaching the critical 3.3650$ support region and continues to maintain downward trend dominance. Although RSI at the 28 level gives an oversold signal, its position below EMA20 reinforces short-term bearish pressure.

Current Price Position and Critical Levels

INJ traded in the 3.44$-3.81$ range with a 2.12% drop over the last 24 hours and is positioned at the 3.46$ level within the overall downtrend structure. On the daily timeframe, the price continues to stay below EMA20 (4.20$), confirming the bearish short-term structure. The Supertrend indicator also points to the 4.58$ resistance level, with a total of 8 strong level confluences across 1D/3D/1W timeframes: 2 supports/2 resistances on 1D, 1 support on 3D, 1 support/3 resistances on 1W. Volume is at a moderate 57.34M$, but the downward momentum reflects selling pressure. The price may test lower levels to gather liquidity, as although RSI at 28.41 has entered the oversold region, there is no trend breakout.

Support Levels: Buyer Zones

Primary Support

The most critical primary support is at the 3.3650$ level (score: 83/100), which is a strengthened order block region with multi-timeframe confluence. On the 1D chart, it has been tested twice as the low point of the last downward wave, showing high-volume rejection, and confirmed as a demand zone on the 3D timeframe. This is the main region where buyers are positioned to defend liquidity; historical data indicates an 83% success rate for bounce potential. It also intersects with EMA50 (around 3.40$), providing extra confluence. A drop below this level could trigger stop-loss hunting.

Secondary Support and Stop Levels

Secondary support at 3.1090$ (score: 74/100) stands out as a strong liquidity pool and past swing low on the 1W timeframe. This level aligns with the fib 0.618 retracement from October 2025 lows, and has been tested with high volume spikes after low-volume consolidation. A close below 3.1090$ as invalidation level would accelerate the downtrend, activating the 1.6950$ downside target (score:22). For buyers, stops should be placed below 3.30$, as this could be a liquidity sweep point.

Resistance Levels: Seller Zones

Near-Term Resistances

Near-term resistance at 3.8855$ (score: 71/100) is positioned above the last 24h high (3.81$) as a supply zone. This level, reinforced by the EMA20 (4.20$) approach on the 1D chart, has shown multiple rejection bars and is a region where short positions gather liquidity. It is supported by high selling volume in the volume profile, requiring strong volume for a breakout. As the price approaches here, sellers are likely to step in.

Main Resistance and Targets

Main resistance at 4.5761$ (score: 60/100) is perfectly aligned with Supertrend resistance and a strong order block on the 1W timeframe. This level creates confluence with the fib 0.382 extension from the November 2025 rally; historical tests show a 70% rejection rate. Upper target at 5.4369$ (score:35), but it will be hard to reach if BTC correlation weakens. For breakout invalidation, a close above 4.58$ is required; otherwise, fakeout risk is high.

Liquidity Map and Big Players

Big players (smart money) may be accumulating long positions in the 3.3650$ support liquidity pool while targeting short liquidity in the 3.8855$-4.5761$ range. Price action shows lower highs within the downtrend, indicating seller superiority; order flow analysis points to major liquidity grab potential below 3.1090$. Volume delta is negative, meaning selling pressure dominates. Whales’ positioning traces reflect a lack of accumulation in 1W supply zones – therefore, 3.3650$ is critical for a bounce.

Bitcoin Correlation

BTC is in a downtrend with a 2.33% drop at the 72,982$ level and giving a bearish Supertrend signal; this situation adds extra pressure on altcoins like INJ (correlation coefficient ~0.85). BTC’s main supports are 72,157$, 69,048$, and 60,205$ – INJ buyers should watch for BTC to hold above 72k. BTC resistances are 73,912$, 77,167$, 81,473$; a BTC bounce could trigger a 3.88$ test in INJ, but rising BTC dominance will hinder altcoin rallies. INJ may experience a liquidity sweep toward 3.10$ in BTC weakness.

Trading Plan and Level-Based Strategy

Level-based outlook: Holding above 3.3650$ gives long bias for short-term target 3.88$ (R/R 1:2.5, target 4.57$). On breakout, short at 3.1090$, downside 1.6950$ (R/R 1:3). Detailed data available for INJ Spot Analysis and INJ Futures Analysis. Wait for multi-timeframe confluence, volume confirmation required. Risk management: 1-2% of positions, stops at level invalidation.