Injective (INJ) is currently trading at $5.20, reflecting a 24-hour decline of 4.38%. The daily trading range has been relatively tight, with a high of $5.51 and a low of $5.19, indicating limited volatility in the short term.

The volume over the last 24 hours stands at approximately $45.8 million, representing 8.83% of the market cap, suggesting moderate trading activity. The short-term moving averages (8, 13, and 21 SMA) all indicate bearish trends, with the 8 SMA at $5.27 showing a decline of 1.27% and the 21 SMA at $5.35 down 2.80%.

The Relative Strength Index (RSI) on the hourly chart is critically low at 14, indicating oversold conditions and potential for a short-term rebound. In contrast, the 7-day RSI at 51 suggests a more balanced market, while the 14-day price change shows a modest increase of 4.45%, indicating some resilience over a longer timeframe.

Injective has shown a strong upward trend over the last 30 days with a price increase of approximately 13.78%, reflecting underlying bullish sentiment despite the current pullback. However, the recent price action and the prevailing bearish signals from the moving averages imply a potential for further downside in the short term.

Given the mix of oversold conditions indicated by the hourly RSI and the bearish moving averages, a cautious approach is warranted. Therefore, the current rating for Injective (INJ) is Hold, with the recommendation to reassess after a few trading sessions to see if a reversal occurs or if further downward pressure materializes.