Injective (INJ) is currently priced at $4.56, reflecting a slight decline of 0.72% over the past 24 hours. The price has fluctuated between a low of $4.50 and a high of $4.68 during this period, demonstrating a tight daily range of 0.18%, indicative of low volatility.

Trading volume stands at approximately $34.74 million, representing 7.61% of the market cap, which suggests moderate market activity. The hourly moving averages show a bearish trend, with the 8 SMA at $4.57 down 0.26%, and the 144 SMA at $4.71 down 3.25%, indicating a lack of bullish momentum in the short term.

The Relative Strength Index (RSI) values are currently 40 for the 1-hour period and 43 for the 7-day period, both below the neutral 50 mark, suggesting that INJ is approaching oversold territory. Over the past week, INJ has seen a significant decline of approximately 15.71%, which raises concerns regarding short-term price stability.

Longer-term trends are also unfavorable, with 14-day and 30-day price changes of -12.34% and -0.89% respectively. The all-time high of $52.62, reached in March 2024, feels increasingly distant, reinforcing bearish sentiment in the market.

Considering the current technical indicators, including the downward moving averages and RSI readings indicating weakness, it is advisable to adopt a cautious approach. The lack of immediate bullish signals and the significant recent price drop suggest potential for further declines in the short term.

Based on the analysis, I recommend a Sell rating for INJ at this time. The prevailing bearish trends, combined with low trading momentum and negative price changes, indicate that holding or purchasing at current levels could result in further losses.