INJ fell to $4.69 during a 7% pullback, but large holders aren't bailing. Whales still command 60% of the token's positioning through the correction, and momentum indicators have started flashing a bullish divergence. Traders are now eyeing a rebound to $6.20 within the next three weeks.
Whale positioning during the pullback
The correction wiped about 7% off INJ's price, yet the biggest wallets held firm. Data shows whales — addresses with substantial holdings — maintained a 60% share of total positioning even as the token dropped. That kind of concentration suggests the sell-off wasn't driven by large-scale distribution, but rather by smaller traders or profit-takers.
When whales keep their positions through a dip, it often signals confidence that the move is temporary. It doesn't guarantee a reversal, but it removes one common cause of extended sell-offs: heavy selling from large holders.
Momentum indicators signal recovery
Technical readings are starting to line up with that whale confidence. Momentum indicators on INJ are showing a bullish divergence — meaning price made a lower low while the oscillator made a higher low. That pattern has historically preceded reversals in crypto markets, though it's not a sure bet.
The divergence alone doesn't trigger a buy signal, but combined with the whale data it gives traders a reason to watch. If the divergence holds, INJ could start climbing back toward recent highs in the coming days.
Bullish target on the horizon
With whales holding steady and the divergence in place, analysts are setting a near-term target of $6.20. That would represent a roughly 32% gain from the current $4.69 level. The projection comes with a three-week window, suggesting the move, if it materializes, will be gradual rather than a sudden spike.
Of course, crypto markets can shift fast. If the broader market turns bearish or if whale positions start to unwind, that target could slip. But for now, the setup is pointed up. Whether the divergence delivers will depend on whether buying pressure picks up in the sessions ahead.
