Injective (INJ) is currently priced at $3.52, showing a 24-hour decline of 3.34%. The daily range has been narrow, between a high of $3.68 and a low of $3.45, indicating a lack of volatility in the short term.

Trading volume stands at 56,511,153, with a volume-to-market cap ratio of 16.05%, suggesting moderate market interest. The 1-hour RSI is at 35, indicating potential oversold conditions, while the 7-day RSI of 44 shows a weak momentum but not yet in the oversold territory.

Looking at the moving averages, the 8 SMA at $3.51 shows a slight upward trend (+0.34%), but longer SMAs reflect a consistent downtrend with the 55 SMA at $3.62 down by 2.80%. Furthermore, the significant price changes over the last 7 days (-20.82%), 14 days (-24.84%), and 30 days (-34.77%) indicate a bearish trend.

Given the all-time high of $52.62 achieved on March 14, 2024, the current price reflects a substantial drop, suggesting a market correction has taken place. The combination of bearish moving averages and a declining RSI points to continued selling pressure.

In conclusion, with the current technical indicators and price action reflecting weak momentum and downtrends, a Sell rating is warranted. The lack of bullish signals and persistent downward pressure suggest further declines may be imminent in the near term.