Decoding Injective’s breakout: Can INJ bulls target $14 and beyond?

Key Points

1. INJ's price surged 15.26% to $12.73, invalidating its bearish structure and flipping near-term sentiment.

2. Funding Rates for INJ remained positive at 0.01%, indicating trader confidence in the ongoing rally.

3. Spot market data shows 'Big Whale Orders,' suggesting large players are increasing INJ positions, adding credibility to the bullish breakout.

4. INJ has entered the 'Heating' phase in derivatives, indicating potential sharp intraday moves and heightened speculative interest.

5. Liquidation clusters between $12.80 and $13.36 could trigger a short squeeze if INJ's price continues climbing, but failure to break past these zones may stall the rally.