Injective (INJ) Rises 7.29% as Binance Futures Open Interest Falls

Injective (INJ) was $8.16, up 7.29% over 24 hours, while Binance futures open interest fell 10.62% to $21.03 million.

An earlier technical reading placed INJ above its seven-, 20- and 50-day simple moving averages, at $7.42, $7.91 and $7.74, respectively. That snapshot put the 24-hour range at $7.59 to $8.20, with resistance markers at $8.38 and $8.60.

The falling open interest alongside a higher spot price points to reduced futures exposure rather than new leverage building.

Other Binance indicators were mixed. The one-hour taker buy/sell ratio was 0.8288, indicating more sell volume than buy volume, while funding was slightly positive at 0.0100%. Long/short ratios were 1.4845 for global accounts and 1.5940 for top-trader accounts, showing a greater long share in both Binance groups.