Injective (INJ) is currently priced at $4, reflecting a slight decline of 1.22% over the past 24 hours. The asset has shown a daily range of $3.96 to $4.17, indicating low volatility with a daily range of just 0.21%.

The trading volume stands at approximately 67.95 million, corresponding to 16.99% of the market cap, suggesting moderate trading activity. However, the current hourly RSI is at a low 25, indicating oversold conditions, while the 7-day RSI at 42 reflects a bearish trend in the short term.

Moving averages are revealing significant downward pressure, with the 8 SMA at $3.99 showing a slight uptick of 0.18%, while the longer-term moving averages (21 SMA at $4.04, 55 SMA at $4.27, and 144 SMA at $4.37) indicate increasingly larger declines, suggesting a bearish outlook. The 14-day and 30-day price changes of -23.18% and -9.45% respectively further reinforce the trend of downward momentum.

Injective's all-time high of $52.62, reached earlier in 2024, underscores the significant retracement from peak levels, highlighting the current market's weak performance. With ongoing negative trends and bearish indicators, investors should be cautious in this environment.

Given the current data, I recommend a Sell rating for INJ. The combination of declining price action, oversold RSI levels, and bearish moving averages suggests that further downside could be likely before any significant recovery occurs.