Injective (INJ) held above its $6.41 early-October low as daily readings and the weekly chart diverged, leaving the overall technical setup split across two time frames.
Daily indicators also point in different directions. During a pullback from $9.41 over the prior 10 days, on-balance volume (OBV) continued to rise. The moving average convergence divergence (MACD) indicator neared a bearish crossover below zero.
On the weekly chart, a zone around $8 has shifted from demand to overhead supply. The 50% retracement level is at $9.60.
INJ had moved above a cup-and-handle pattern. The chart treats the associated breakout area near $6 as a support level under test, separate from the $6.41 early-October low.
