Injective (INJ) is currently priced at $6.74, reflecting a slight decline of 1.14% over the past 24 hours. The trading range for the day shows a high of $7.08 and a low of $6.45, indicating a relatively narrow daily fluctuation of 0.63%.

Volume over the last 24 hours stands at 121,444,020, which constitutes 18.43% of the market cap, suggesting a moderate level of trading activity. The current moving averages indicate mixed signals; the 8-hour SMA at $6.68 is showing a slight upward trend, while longer-term SMAs like the 55-hour and 144-hour indicate significant declines of 7.77% and 12.56%, respectively.

The RSI metrics paint a bearish picture with the 1-hour RSI at 47, indicating a near-neutral stance, while the 7-day RSI at 42 suggests that the asset is nearing oversold territory. Price changes over the last 7 days, 14 days, and 30 days are notably negative at -21.74%, -25.50%, and -47.33%, respectively, pointing to a sustained downtrend.

Injective's all-time high of $52.62, reached in March 2024, sets a stark contrast to its current price and highlights the significant retracement the asset has experienced. This decline from its peak raises concerns about market sentiment and investor confidence, particularly given the ongoing downtrend reflected in recent price action.

Considering the technical indicators and the current market conditions, Injective (INJ) is currently exhibiting weakness. With the short-term indicators not providing a strong bullish signal and the RSI suggesting potential oversold conditions, a cautious approach is recommended.

Rating: Hold. While the asset is showing signs of a potential reversal given the oversold RSI, the prevailing downward trend and negative price changes indicate it may be prudent to wait for more favorable signals before considering a buy.