Injective Bounces 13.68%, but Binance's Top Traders Still Betting Against the Bounce 🎯

Injective (INJ) climbed 13.68% over the past 24 hours, recovering to roughly $4.89 after buyers defended a key support area near $4.19. The rebound lifted INJ's market capitalization to $489.67 million, even as 24-hour trading volume slipped 1.16% to $145.85 million.

Despite the double-digit recovery, leveraged traders on Binance maintained a bearish posture. Long accounts stood at 41.09%, while 58.91% of accounts held short positions, producing a Long/Short Ratio of 0.70. The positioning indicated that experienced participants expected the recovery to lose momentum rather than extend.

Derivatives data painted a similarly cautious picture. The Futures Volume Bubble Map entered an overheating phase, reflecting accelerated activity as price rebounded from support. Meanwhile, the Futures Taker CVD stayed seller-dominant, showing market sell orders continued to outpace aggressive bids during the rally.

On the daily chart, INJ reclaimed ground toward the psychological $5.00 resistance after several sessions of decline, though price remained below prior swing highs near $5.68 and $7.00. The Relative Strength Index recovered to 46.67 from recent oversold territory, while the RSI moving average sat near 44.92, indicating easing bearish pressure without a confirmed bullish shift.

If buyers hold the recovery and reclaim $5.00 with sustained spot demand, the next upside reference sits around $5.68, with $7.00 forming a larger objective. Failure to secure $5.00 could invite another retest of $4.19 before any stronger advance develops.