Injective (INJ) is currently trading at $3.23, reflecting a notable 5.75% increase over the last 24 hours, indicating short-term bullish momentum. The daily trading range has been relatively tight, fluctuating between a low of $3.05 and a high of $3.22, suggesting a consolidating market.

The volume of 35,978,453 indicates robust trading activity, with a volume-to-market cap ratio of 11.17%, which supports the current price action. The hourly moving averages show positive trends, with the 55 SMA indicating a 4.86% increase, suggesting a potential short-term bullish trend.

However, the 1-hour RSI at 72 indicates that INJ may be overbought in the very short term, which could lead to a pullback. In contrast, the 7-day RSI at 52 indicates a more neutral position, while the 14-day and 30-day price changes of -11.39% and -39.32% respectively highlight longer-term bearish trends.

Given that the all-time high of $52.62 was reached on March 14, 2024, the current price reflects a significant retracement from those levels. Despite the recent gains, the long-term price trend appears weak, which suggests caution.

In conclusion, while there is short-term bullish momentum, the overbought conditions and longer-term bearish trends warrant a more conservative approach. Therefore, the recommendation for Injective (INJ) is to Hold, awaiting further confirmation of sustainable upward momentum before considering a Buy position.