INJ Technical Analysis Jan 29

INJ under pressure at $4.33. Nearby resistance at $4.36 is critical, weak supports dominate below. Bearish momentum in focus for 24-48 hours.

Short-Term Market Outlook

INJ is trading at $4.33 as of the morning of January 29, 2026, showing a negative picture with a %2.63 drop in the last 24 hours. Intraday range squeezed between $4.31-$4.54, but with volume limited at $33.41M, downward pressure is felt. Short-term trend in a clear downtrend; price positioned below EMA20 ($4.43). RSI at 39.49 approaching oversold but not yet giving recovery signals. MACD histogram negative and Supertrend pointing to $4.63 resistance. In the 24-48 hour window, upward movements may remain limited; high risk of quick slips due to weak supports below. Scalping opportunities for active traders can be sought at resistance tests, but overall bias is bearish.

Intraday Critical Levels

Nearby Support Zones

No strong short-term support level (score >=60), leaving INJ vulnerable. Closest watch point is intraday low $4.31; below here, a quick slip to $4.20 is possible. Wider 24-48 hour target at $3.6845 (score 0) on radar, but for intraday, $4.25-$4.28 zone as temporary buffer to monitor. Quick invalidation of these levels (e.g., 15min candle close) could trigger downward momentum.

Nearby Resistance Zones

Most critical resistance at $4.3593 (score 82/100), followed by $4.5389 (72/100) and $4.8305 (66/100). If price tests $4.36, it could offer quick short opportunities for scalping. $4.54 intraday high, but Supertrend at $4.63 caps the upper band. Break of these resistances (with consecutive 5min candles) activates upside scenario, otherwise rejection likely.

Momentum and Speed Analysis

Momentum bearish; MACD negative histogram widening, RSI under pressure below 39. Speed analysis (momentum oscillators) shows downward acceleration, especially staying below EMA20. This structure supported by declining volume preserves downtrend channel on 1H and 4H timeframes. For scalping, watch momentum divergences: Bullish RSI divergence around $4.36 could invalidate shorts. Overall speed low, sudden spikes tied to BTC moves. Risk: False breakouts can lead to high volatility, keep stop-losses tight (1-2% risk).

Short-Term Scenarios

Upside Scenario

Close above $4.3593 (15min candle) for quick move to $4.5389, target $4.8305. Trigger: RSI 45+ and MACD approaching zero line. Supportive if BTC breaks $88,686 resistance. Invalidation: Drop below $4.33. Low probability scenario (%30), as overall trend down.

Downside Scenario

Break below $4.31 for slip to $4.20, 48-hour target $3.6845. Trigger: Renewal of intraday low and volume increase below. Accelerates if BTC breaks $87,396 support. Invalidation: Hold above $4.36. High probability (%70), consistent with weak supports.

Bitcoin Correlation

BTC at $88,085 with -%0.95 drop in downtrend, Supertrend bearish. INJ highly correlated to BTC (%0.85+); if BTC breaks $87,396 support, pressure on INJ below $4.20 increases. Watch BTC resistances $88,686-$89,595; break here could see INJ test $4.54. If BTC dominance rises, general selling pressure on altcoins; follow INJ Spot Analysis and INJ Futures Analysis for INJ.

Daily Summary and Watch Points

Today, INJ $4.3593 resistance and $4.31 support in focus. Bearish momentum dominant, BTC downtrend pressuring altcoins. Watch: 1) $4.36 break as upside invalidation, 2) Below $4.31 as downside trigger, 3) RSI divergences. Short-term trades high risk; position size not exceeding %1-2, use quick stops. MTF has 12 strong levels (1D/3D/1W), supporting down bias. No news flow, stay technical-focused.