Injective (INJ) is currently priced at $3.28, reflecting a modest 24-hour change of 0.89%. The daily trading range has been tight, with a high of $3.34 and a low of $3.15, indicating limited volatility in recent sessions.

Volume stands at 56,125,000, which constitutes 17.12% of the market cap, suggesting active trading participation. The short-term moving averages show a mixed sentiment, with the 8-hour SMA at $3.29 indicating a slight downward trend, while the 13-hour and 21-hour SMAs show positive momentum.

The 1-hour RSI is at 67, indicating that INJ is approaching overbought territory, which could imply a short-term pullback. In contrast, the 7-day RSI at 47 suggests a more neutral stance over a longer timeframe, reflecting a lack of strong buying or selling pressure.

From a longer-term perspective, INJ has faced significant price declines, with a 7-day change of -9.83%, a 14-day change of -28.00%, and a 30-day decline of -36.82%. This sustained downtrend emphasizes the need for caution, as the market sentiment remains bearish over these periods.

Injective's all-time high of $52.62, reached in March 2024, underscores the potential upside; however, the current price reflects a substantial retracement from this level. Given the recent performance and technical indicators, the asset shows potential for short-term gains, but long-term weakness cannot be overlooked.

In conclusion, I rate INJ as a Hold. While there may be opportunities for short-term trading given the current price action, the overall trend remains bearish, and caution is advised for longer-term positions.