Injective (INJ) is currently trading at $3.53, reflecting a 24-hour change of -2.99%. The price has fluctuated between a daily high of $3.77 and a low of $3.45, indicating a relatively narrow daily range of 0.32%.

Trading volume over the past 24 hours stands at approximately 59.15 million, which corresponds to 16.83% of the market capitalization. The short-term hourly moving averages are trending negatively, with the 8 SMA at $3.57 down 1.06%, indicating a bearish sentiment in the immediate term.

The 1-hour Relative Strength Index (RSI) is at 31, signaling oversold conditions that may suggest a potential short-term rebound. However, the 7-day RSI at 43 indicates continued weakness, as does the significant price depreciation over the past 7, 14, and 30 days, with declines of approximately 20.89%, 22.12%, and 33.29%, respectively.

With the all-time high recorded at $52.62 in March 2024, current prices represent a significant drawdown, emphasizing ongoing bearish pressure in the market. The technical indicators collectively suggest a downtrend, with the moving averages and RSI indicating that further selling could be imminent before any potential recovery.

In conclusion, based on the technical analysis and current market conditions, the rating for Injective (INJ) is Sell. The sustained negative price action and weak momentum suggest that a cautious approach is warranted until stronger bullish signals emerge.