Injective Drops to $7.42 Amid Declining Open Interest

The Injective (INJ) token, used in the eponymous blockchain network for financial applications, was trading around $7.42 on November 12, 2026, after a 5.7% decline in the previous session. According to the analytical platform CoinGlass, the futures market saw a decrease in open positions, with market orders showing a slight predominance of sellers.

Open Interest in INJ Futures Declines

The aggregate value of open futures contracts on INJ decreased by 4% over the day, to $140.77 million. The decline in open interest has been ongoing since mid-October. This indicator reflects a reduction in the number or size of active positions but does not in itself determine the direction of future price changes.

The buy-to-sell ratio initiated by market orders was 0.96. Sales accounted for 51.1% of such activity volume, so the sellers' advantage remained slight. The data characterize transactions in the futures market, not all token operations.

Technical Analysis Highlights Support at $7.19

On the daily chart, INJ was below the 50-day exponential moving average around $7.55 but remained above the ascending support line at $7.19. The long-term 200-day average was located at $6.27.

The MACD indicator crossed the signal line from top to bottom, indicating a weakening upward momentum. The Relative Strength Index (RSI) was around 44 points – below the neutral mark of 50 but above the oversold threshold of 30.

In the initial technical scenario, securing the price below $7.19 could open the way to the next supports at $6.71 and $6.27. In case of recovery, the nearest obstacle was noted at $7.55, then $8.35. Only a sustained close of daily trading above $8.35 was considered a condition for testing the next resistance at $9.41. These are calculated levels, not a confirmed forecast of INJ movement.