Injective (INJ) is currently trading at $5.64, reflecting a modest 24-hour change of 1.91%. The daily trading range has been relatively tight, with a high of $5.91 and a low of $5.40, indicating a volatility of 0.51%.

The trading volume over the past 24 hours stands at approximately $81.17 million, representing 14.38% of the market cap, which suggests active trading interest. However, the 7-day RSI of 43 indicates that INJ is approaching oversold conditions, while the 1-hour RSI of 50 suggests a neutral short-term momentum.

From a moving averages perspective, the 8 SMA at $5.74 is trending negatively at -1.68%, while the 13 SMA at $5.77 shows a decline of -2.21%. Conversely, the 55 SMA at $5.53 is exhibiting a positive trend at +2.05%, which could imply a potential support level.

In terms of longer-term performance, the asset has seen significant downward pressure with a 30-day price change of -33.46% and a 14-day price change of -26.53%. This sustained decline, coupled with the current price trading substantially below its all-time high of $52.62, suggests that market sentiment remains bearish.

Given the current market conditions, Injective appears to be in a corrective phase, with resistance levels to watch around the recent highs of $5.91. The combination of bearish price momentum and neutral RSI levels suggests a cautious approach.

In conclusion, the recommendation for Injective (INJ) is to Hold. While there may be short-term trading opportunities, the overall trend remains downwards, and any potential recovery seems uncertain in the current market environment.