Injective (INJ) is currently trading at $5.32, reflecting a 24-hour decline of 1.60%. The daily price range has been narrow, with a high of $5.51 and a low of $5.31, indicating limited volatility in the current market environment.

Volume stands at 52,029,510, translating to a volume-to-market cap ratio of 9.78%, suggesting moderate trading activity relative to its market capitalization. The hourly moving averages show a consistent downtrend, with the 8, 13, and 21 SMAs all positioned below the current price, reinforcing bearish sentiment in the short term.

The 1-hour RSI is at 39, indicating a potential oversold condition, while the 7-day RSI is at 44, suggesting weak momentum but not yet in oversold territory. This is corroborated by a significant 7-day price change of -18.08%, a 14-day change of -29.82%, and a 30-day change of -37.44%, highlighting a prolonged bearish trend.

The all-time high for INJ was $52.62, reached on March 14, 2024, which underscores the potential for significant upside if the market reverses. However, the current technical indicators and downward price momentum suggest that the asset is still in a corrective phase.

Given the prevailing bearish indicators and the inability to break above key moving averages, a cautious stance is warranted. Therefore, the recommendation for Injective (INJ) is to Hold, monitoring for signs of stabilization or reversal before considering new positions.