Injective (INJ) is currently priced at $3.25, reflecting a 1.81% increase over the past 24 hours. The daily trading range has been narrow, with a high of $3.32 and a low of $3.17, indicating consolidation around the current price level.

Volume has reached approximately 39.56 million, accounting for 12.19% of the market cap, suggesting healthy trading activity. However, the hourly moving averages show a mixed picture, with the 8 SMA and 13 SMA indicating slight downward momentum, while the 55 SMA and 144 SMA are showing positive trends.

The 1-hour RSI at 46 indicates that INJ is nearing oversold conditions, while the 7-day RSI of 54 suggests a more balanced market sentiment. Over the last week, the price has seen a modest increase of 0.66%, but this is overshadowed by a significant 14-day decline of 11.31% and a more substantial 30-day drop of 37.57%.

Injective’s all-time high of $52.62 is a stark contrast to the current price, indicating substantial room for growth should market conditions improve. However, the current technical indicators and volume trends suggest a cautious approach is warranted in the short term.

Given the current market conditions, including the mixed moving averages and declining price trends over the longer term, I recommend a Hold rating for INJ. This stance allows investors to assess potential upward momentum in the coming days while avoiding exposure to continued downward pressure.