Injective (INJ) is currently trading at $5.62, reflecting a 3.74% increase over the last 24 hours. The price has fluctuated between a daily high of $5.67 and a low of $5.35, indicating a relatively tight range of 0.32%.

The trading volume stands at approximately $79.6 million, resulting in a volume-to-market cap ratio of 14.23%, which suggests active trading interest. Short-term moving averages show a bullish trend with the 8 SMA at $5.49 (+2.43%), 13 SMA at $5.46 (+2.93%), and 21 SMA at $5.44 (+3.36%), while the 55 SMA at $5.63 shows a slight bearish sentiment at -0.16%.

The one-hour RSI is at 72, indicating that INJ is in the overbought territory, suggesting potential price correction in the short term. However, the 7-day RSI of 51 indicates a neutral stance, reflecting a lack of strong momentum in either direction over the longer timeframe.

From a longer-term perspective, the 7-day price change is -2.74%, the 14-day change is -7.95%, and the 30-day change is -26.39%, all highlighting bearish pressure in recent weeks. The all-time high of $52.62 reached in March 2024 reinforces the potential for significant upside, but the current price is substantially lower.

Given the overbought conditions indicated by the 1-hour RSI and the recent downtrends over the past month, a cautious approach is warranted. Therefore, the rating for Injective (INJ) is a Hold, as current price levels may face short-term corrections, but longer-term potential remains if market sentiment shifts positively.