Summary
TLDR: Injective (INJ) price is attempting to recover after falling through $35 support level, with crypto whales likely driving the recovery. Whales accumulated over 740,000 INJ in a day, impacting prices. Price may rise to $40 if it breaks $35 resistance, but could fall to $30 if support at $28 is breached.
Key Points
1. Injective (INJ) price is attempting a recovery after falling through the $35 support level, marking a monthly low.
2. Crypto whales will likely be the catalysts of the recovery, given their recent massive INJ accumulation.
3. Injective price is presently trading at $34 after correcting by over 16% in the past week. During the same duration, the network activity grew, as can be noticed in the daily active addresses (DAA).