Injective (INJ) Drops 11.7% as Technicals Signal $3.44 Target

Edgen Crypto

·Feb 28 2026, 09:13

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Key Takeaways

The Injective (INJ) token fell sharply on February 28, but technical indicators suggest it may be oversold, creating a potential setup for a short-term rebound. Traders are watching key levels as the price action develops.

Significant Drop: The INJ token declined 11.74% to a price of $2.90 on February 28, 2026.
Oversold Signals: The Relative Strength Index (RSI) reached 37.49, approaching the classic oversold threshold and signaling potential exhaustion from sellers.
Recovery Target: Technical analysis points to a potential price recovery toward the $3.44 resistance level in the near term.

INJ Price Plummets 11.74% to $2.90

The Injective (INJ) token experienced a sharp decline on February 28, 2026, dropping 11.74% to a trading price of $2.90. The significant one-day sell-off has pushed the asset into territory that is now capturing the attention of technical traders monitoring for price dislocations and potential entry points.

Technicals Signal Potential Rebound to $3.44

Despite the negative price action, technical indicators suggest the token may be oversold. The Relative Strength Index (RSI) for INJ has fallen to 37.49. An RSI reading below 30 typically indicates an asset is oversold, and a value of 37 is approaching this critical level. Combined with its positioning near the lower Bollinger Band, analysts are targeting a potential short-term recovery to the $3.44 resistance level in the coming weeks, suggesting the downward momentum could be exhausted.