Injective (INJ) is currently trading at $5.81, reflecting a robust 14.41% increase over the past 24 hours. The daily trading range has been relatively narrow, with a high of $5.83 and a low of $5.04, indicating volatility within a controlled bandwidth.

The volume of $72,643,231 represents 12.46% of the market cap, suggesting healthy trading activity that supports price movements. Hourly moving averages indicate short-term bullish trends, especially the 8 SMA at $5.26, which shows a significant increase of 10.44%, while longer-term indicators like the 144 SMA at $5.81 are showing stability.

The 1-hour Relative Strength Index (RSI) stands at 84, indicating that INJ is currently overbought in the very short term, which may prompt a price correction. In contrast, the 7-day RSI at 50 indicates a neutral position, suggesting that while there has been a recent uptick, the medium-term momentum is not excessively bullish or bearish.

Over the last week, INJ has increased by approximately 3.34%, but the 14-day and 30-day changes are negative, at -9.84% and -23.95%, respectively. This disparity suggests that while there is a short-term bounce, the overall trend is still under pressure from previous declines, which could impact investor sentiment.

The all-time high of $52.62, reached in March 2024, indicates substantial upside potential if the market conditions improve significantly. However, current price levels remain far below this mark, leading to questions about sustainable growth unless accompanied by strong fundamentals or positive market sentiment.

Based on the current analysis, the recommendation for Injective (INJ) is to Hold. While there is strong short-term momentum, the overbought conditions and historical price declines suggest caution before entering new positions. Waiting for a clearer trend reversal or confirmation of support levels could provide a more favorable entry point.