Injective (INJ) is currently priced at $4.53, showing a slight decline of 0.79% over the past 24 hours. The daily trading range has been narrow, with a high of $4.60 and a low of $4.52, indicating limited volatility and a cautious market sentiment.

The trading volume stands at approximately $27.2 million, which corresponds to 6.01% of its market cap, suggesting moderate investor interest. However, the price action reflects a bearish trend, as indicated by the moving averages; all short-term SMAs (8, 13, 21, and 55) are trending downward, with the 144 SMA showing a more significant decline of 2.78%.

The Relative Strength Index (RSI) metrics reveal an oversold condition, particularly in the 1-hour timeframe where it stands at 36. The 7-day RSI at 42 indicates a weak momentum, further corroborated by the significant price drops over the past week (-15.58%) and two weeks (-13.67%).

In the context of the all-time high of $52.62 reached on March 14, 2024, the current price shows a drastic decline, emphasizing the bearish sentiment prevailing in the market. Despite a slight recovery from lower levels in the past month, the overall trend remains downward, with a 30-day price change of -2.45%.

Given the current technical indicators and the bearish momentum reflected in both the moving averages and RSI metrics, Injective appears to be under pressure. The combination of declining prices, low trading volume relative to market cap, and weak momentum signals suggests that further declines may be imminent.

Rating: Sell. The ongoing bearish trend and poor momentum indicators indicate that INJ may continue to face downward pressure in the near term. Investors should consider exiting positions to minimize potential losses.