Summary
TLDR: Injective price has been steadily growing since December 2023, reaching a new all-time high this month with the support of whales and retail investors. Whale accumulation and low active deposits indicate a positive outlook for the altcoin, with a potential target of $50. However, a decline back to $45 could signal a correction. Always conduct your own research before making financial decisions.
Key Points
1. Injective price has been seeing nominal growth since December 2023, marking a new high this month before correcting.
2. Whales holding between 100,000 to 1 million INJ have increased their supply, boosting the price and resulting in a recent rally.
3. Injective has broken out of a resistance and support sandwich, aiming to reach $50 as a crucial psychological support level to continue the rally among retail investors.