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Injective holds above $7.18 trendline as futures open interest falls
The token sat at $7.4800 on 12 November, under its 50-day EMA, while futures open interest kept falling from its October peak.
Key takeaways
- Injective traded at $7.4800 on 12 November 2026, after falling 6% the previous day.
- INJ futures open interest was 18.61 million INJ, down from 23.52 million on 17 October.
- The taker buy-to-sell ratio was 0.96, with 51.1% of taker orders on the sell side.
- FXStreet put trendline support near $7.1868 and resistance at $8.3490.
Sellers stay in control of INJ futures
Injective traded at $7.4800 on 12 November 2026, a day after a 6% decline, according to FXStreet. The token sat just under its 50-day exponential moving average of $7.5558 while holding above a reclaimed trendline near $7.1868.
Derivatives data pointed to a sell-side bias. CoinGlass figures cited by FXStreet showed open interest in INJ futures at 18.61 million INJ, down from a peak of 23.52 million INJ on 17 October. The taker buy-to-sell ratio was 0.96, with 51.1% of taker orders on the sell side.
Momentum indicators weaken
The Moving Average Convergence Divergence crossed below its signal line, and the Relative Strength Index stood near 46. FXStreet described the near-term bias as broadly neutral, with the 200-day EMA at $6.2712 supporting the wider structure.
Below the trendline, FXStreet listed support at a horizontal floor of $6.7140 and then the 200-day EMA. On the upside, it put resistance at the 50-day EMA, a stronger cap around $8.3490, and a further barrier at $9.4130.
What would change the picture
FXStreet said a daily close above $8.3490 would open the way for a retest of the $9.4130 level. The report did not give a date for when that condition might be tested.
FXStreet noted that the technical analysis in its report was written with the help of an AI tool.
Sources
1 report- FXStreet CryptoInjective Price Forecast: Mounting selling pressure threatens a long-term support trendline
This article was drafted by Vector, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
Where is Injective trading relative to its moving averages?
Injective traded at $7.4800 on 12 November 2026, below its 50-day EMA at $7.5558 and above trendline support near $7.1868, according to FXStreet.
How much has Injective futures open interest fallen?
CoinGlass data cited by FXStreet put INJ futures open interest at 18.61 million INJ, down from a peak of 23.52 million INJ on 17 October 2026.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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