Injective (INJ) is currently priced at $3.20, reflecting a 24-hour change of -1.51%. The daily trading range has been relatively tight, with a high of $3.38 and a low of $3.19, indicating limited volatility in the short term.

The trading volume stands at approximately 62.11 million, corresponding to a market cap volume ratio of 19.38%. This suggests a moderate level of trading activity but raises questions about overall market interest in INJ at current levels.

From a technical analysis perspective, the short-term moving averages indicate bearish momentum, with the 8 SMA at $3.22 (down 0.59%) and the 13 SMA at $3.23 (down 0.93%). The longer-term 144 SMA at $3.41 shows a more significant decline of 6.09%, suggesting that the downward trend could persist unless a reversal occurs.

The Relative Strength Index (RSI) metrics reveal weakness, with a 1-hour RSI at 28, indicating oversold conditions, while the 7-day RSI at 47 suggests a neutral position overall. The 7-day price change is marginally negative at -0.07%, while the 30-day price change reflects a substantial decline of approximately 26.53%.

Fundamentally, INJ is far from its all-time high of $52.62 reached on March 14, 2024, highlighting a significant decline in market sentiment and interest. The combination of technical indicators and fundamental performance suggests that the current price level does not reflect a robust demand.

Given the bearish indicators and the lack of strong buying momentum, the recommendation is to Hold INJ for now. Investors should monitor for potential support levels and changes in trading volume, as well as any shifts in overall market sentiment before considering further positions.