Injective (INJ) is currently priced at $3.97, reflecting a slight decline of 0.43% over the past 24 hours. The price has fluctuated between a high of $4.08 and a low of $3.94, indicating a narrow daily range of 0.14%, which suggests a period of consolidation.

Trading volume stands at approximately $55.67 million, corresponding to a volume-to-market cap ratio of 14.02%, indicating healthy trading activity relative to its market capitalization. The hourly moving averages show bearish sentiment, with the 8 SMA at $4.01 and the 55 SMA significantly lower at $4.16, reflecting downward pressure in the short to medium term.

The Relative Strength Index (RSI) readings are currently at 46 for the hourly chart and 42 for the 7-day period, both of which indicate a neutral to bearish market sentiment. Over the past week, INJ has decreased by approximately 13.44%, and the 14-day price change reveals a more substantial decline of 25.67%, indicating ongoing selling pressure.

Injective's all-time high of $52.62, achieved in March 2024, remains a distant target, emphasizing the current bearish phase since prices are significantly lower. The persistent downward trend in the moving averages and RSI levels suggest that further price correction may be imminent unless there is a notable shift in market sentiment.

Considering the current technical indicators, INJ is experiencing downward momentum with no immediate signs of reversal. Therefore, the recommendation is to Hold at this time, as potential for recovery will depend on breaking above critical resistance levels around $4.00 and improving RSI readings.