- The number of return users of INJ has reached a record, the majority discharging their assets.
- Some investor cohorts still consider injor as a dignified investment and continue to accumulate the assets.
Injective (INJ) has undergone a sharp decline of 12% in the last 24 hours – one of the largest losses on the cryptography market, a press time.
These losses, largely motivated by the return of older users, do not necessarily mark the end of the INJ. Chain analysis highlights several purchase signals that could stabilize or increase the price.
What about the sale pressure?
In the past 24 hours, the number of return users has reached a new summit of the year.
At the time of writing Return users reached 57,700The highest level in more than a year. These users – long -term holders and active traders – are known to enter the markets after past purchases and are often negotiated aggressively.
Their yield during the decrease in high prices of INC suggests that High conviction holders can unload assets.
Source: Artemis
In addition, a new user activity has dropped sharply, with only 512 new participants joining.
This indicates that while veterans are selling, the new potential arrivals consider injis as at high risk and hesitate to invest.
Unjord triggers opportunistic purchases among investors
Investors DEFI and Non-Defi see the drop in price as an opportunity to purchase. Together, they accumulated 1.36 million dollars in INJ.
DEFI Investors alone bought $ 520,000 from INJ and deposited it in liquidity pools.
Source: Defillama
This was obvious because the total locked value (TVL) increased from $ 33.9 million to $ 34.42 million within 24 hours.
Similarly, in the undefined segments, the accumulation was strong. Netflow Exchange Spot data showed that $ 840,000 from IJ have been removed from centralized exchanges at the time of the press.
Source: Coringlass
This tendency to increasing accumulation indicates a long -term perspective. Investors DEFI lock assets in protocols, while punctual traders transfer tokens of private wallet scholarships.
Where will I INJOR go?
Both lowered and bullish signals emerge, Ambcrypto analyzed the liquidation thermal card.
The thermal card, a tool used to follow probable price movements depending on the liquidity levels, suggests that INJ could soon make a significant movement.
At the time of writing the editorial staff, the next main liquidity pocket was spotted above the current price, potentially attracting INJ at $ 11.
Source: Coringlass
However, the highest liquidity concentration was about $ 10.1, marked by the Supertend yellow line.
If INJ has followed its historic scheme, the asset could rally at this level despite the current sales pressure of return users.
