Injective (INJ) is currently priced at $4.71, reflecting a 1.69% increase over the last 24 hours. The daily trading range has been relatively narrow, with a high of $4.76 and a low of $4.50, indicating a short-term consolidation phase.

Volume for the past 24 hours stands at approximately $56 million, which represents 11.88% of the market capitalization, suggesting a moderate level of trading activity. The short-term moving averages, such as the 8 SMA and 13 SMA, show positive trends, while the longer-term 144 SMA indicates a downward correction of about 5.15%, signaling mixed momentum.

The Relative Strength Index (RSI) metrics provide further insights into market sentiment; the 1-hour RSI is neutral at 52, while the 7-day RSI at 46 indicates a slight bearish tendency. The price has decreased by 14.07% over the past week and 10.65% over the past two weeks, suggesting ongoing selling pressure despite the recent uptick.

Injective’s current price is significantly below its all-time high of $52.62 reached in March 2024, indicating a potential for recovery if market conditions improve. However, the current market sentiment and price action suggest that any upward movement may be limited unless there is a substantial increase in buying volume.

Given the mixed signals from the moving averages and RSI indicators, along with the recent downtrends, the recommendation for Injective (INJ) is to Hold. This approach allows for monitoring potential recovery signals while mitigating the risk of further declines in a bearish environment.