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![Trextxxy Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1517606372296343565.png) Trex [@Trextxxy](/creator/twitter/Trextxxy) on x 1755 followers
Created: 2025-07-22 14:19:36 UTC

Seems the Market is not treating Ninjas Nice. Let us see why

@injective XXX% 24-hour decline reflects profit-taking after recent gains, technical overextension, and sector-wide altcoin weakness.  

X. Profit-taking after XX% weekly gains and $14–$15 resistance  
X. Overbought RSI (7-day RSI: 83.9) triggered short-term correction  
X. Altcoin rotation as Bitcoin dominance rose to XXXXX% (+0.3% in 24h)  

Deep Dive  
X. Technical Context  
- Overbought signals: The 7-day RSI hit XXXXX (above XX = overbought), historically preceding pullbacks. The price rejected the $XXXXX swing high, aligning with Fibonacci extension resistance at $XXXXX  
- Support test: Price found temporary footing near the XXXX% Fibonacci retracement ($14.12), but bears pushed it below the pivot point ($15.19).  

X. Market Dynamics  
- Altcoin weakness: The Altcoin Season Index fell XXXXX% in XX hours as capital rotated toward Bitcoin (dominance +0.3% to 60.28%).  
- Derivates cooling: Open interest for perpetuals dipped 0.72%, suggesting reduced leveraged long positions after INJ’s XX% 30-day rally.  

X. On-Chain Factors  
- Coinbase wallet activity: Addresses linked to Coinbase hold 8.5M $INJ (avg. cost: $20), creating latent sell pressure at current $XXXXX levels  
- TVL growth pause: Despite a XXXX% monthly surge in Total Value Locked, daily DeFi activity showed signs of consolidation.  

Conclusion  
$INJ’s dip appears corrective rather than structural, driven by natural profit-taking and sector rotation. Watch for stability above $XX (200-day EMA: $13.49) and progress on the Canary Capital ETF filing. Could renewed altcoin momentum reverse this pullback if Bitcoin stabilizes?

![](https://pbs.twimg.com/media/Gwd9ATGXgAI-kMg.jpg)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947662819815501979/c:line.svg)

**Related Topics**
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[altcoin](/topic/altcoin)
[$trex](/topic/$trex)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)

[Post Link](https://x.com/Trextxxy/status/1947662819815501979)