Injective (INJ) is currently priced at $3.15, experiencing a slight decline of 1.19% over the past 24 hours. The daily trading range was between $3.11 and $3.29, indicating a relatively stable price movement but with limited volatility, as shown by the daily range of 0.18%.

The trading volume stands at approximately $53.48 million, representing 16.96% of its market capitalization, suggesting a healthy liquidity level. However, the price is under pressure as all short to medium-term Simple Moving Averages (SMAs) are below the current price, signaling a potential bearish sentiment in the market.

The 1-hour RSI is currently at 45, indicating a neutral position, while the 7-day RSI is lower at 40, suggesting that the asset may be approaching oversold conditions. Over the past week, INJ has decreased by approximately 4.15%, but the 14-day price change shows a modest recovery of 4.38%, indicating potential for short-term reversals.

Longer-term trends reveal a concerning 30-day price decline of nearly 29.89%, suggesting a bearish trend persists. Furthermore, the all-time high of $52.62 reached earlier this year underscores the significant downside from current levels, indicating substantial resistance ahead.

Considering the combination of short-term indicators and the recent price action, the market sentiment for Injective appears to be bearish. The consistent downward pressure, coupled with a lack of bullish momentum in key moving averages and RSI readings, leads to a cautious outlook.

Given the current data, a Hold rating is appropriate for Injective (INJ). This rating reflects the asset's potential for recovery while remaining cautious of continued bearish sentiment, suggesting that investors may want to wait for clearer signs of a trend reversal before making further commitments.