Injective (INJ) is currently priced at $12.86, demonstrating a positive 24-hour change of 3.06%, indicating an upward momentum. The daily price range has been relatively tight, fluctuating between a low of $11.97 and a high of $12.87, highlighting a stable market environment.

Volume traded in the last 24 hours stands at approximately 144 million, equating to a volume-to-market cap ratio of 11.46%. This suggests that trading activity is robust, potentially supporting further price increases if demand persists.

Short-term moving averages reflect bullish sentiment, with the 8 SMA at $12.18 and a gain of 5.60%, while the 13 SMA and 21 SMA also show positive trends. The 55 SMA at $12.49, although trailing, indicates the price is above significant support levels, reinforcing a bullish outlook.

The 1-hour RSI of 65 suggests that INJ is nearing overbought conditions, yet the 7-day RSI of 58 indicates room for further growth without immediate reversal risks. Additionally, substantial price increases over the past week (24%) and two weeks (23.78%) confirm a strong upward trend, supported by the recent 30-day change of nearly 12%.

Considering the all-time high of $52.62 reached on March 14, 2024, current levels represent a significant undervaluation potential if the market sentiment continues to improve. The combination of strong price momentum, healthy volume, and supportive moving averages suggests a favorable environment for continued appreciation.

Based on this analysis, I rate Injective (INJ) as a Buy. The current price dynamics, coupled with bullish technical indicators and strong historical performance, suggest that investors could benefit from entering or accumulating positions at this level.