Injective (INJ) is currently priced at $3.13, reflecting a 24-hour change of -3.81%. The price is at the low end of its daily range, which has seen a high of $3.26 and a low of $3.13, indicating a period of volatility with a limited range.

The volume over the past 24 hours is approximately $40.18 million, equating to a volume-to-market cap ratio of 12.82%. This relatively high volume suggests active trading but does not indicate strong bullish sentiment as the price continues to decline.

Analyzing the moving averages, the short-term 8 SMA and 13 SMA are both at $3.20, showing declines of -2.21% and -2.06%, respectively. The longer-term moving averages, particularly the 144 SMA at $3.34, exhibit a larger decline of -6.41%, suggesting bearish momentum in the broader trend.

The 1-hour RSI is at 38, indicating that INJ is approaching oversold territory, while the 7-day RSI is at 44, which shows a slightly better but still weak momentum trend. The 7-day, 14-day, and 30-day price changes are all negative, with declines of -12.79%, -29.08%, and -39.29% respectively, reinforcing a downward trend.

With the all-time high at $52.62, the current price reflects a significant retracement, indicating a loss of investor confidence. Given the current technical indicators, including the bearish moving averages and RSI metrics, the market sentiment appears predominantly negative.

Based on the analysis, the rating for Injective (INJ) is Sell. The downward momentum, coupled with persistent negative price changes over multiple timeframes, suggests further downside risk before a potential recovery can be considered.