Injective (INJ) is currently trading at $4.60, experiencing a slight decrease of 0.12% over the past 24 hours. The daily price range has been tight, with a high of $4.68 and a low of $4.53, indicating low volatility in the short term.

Trading volume stands at approximately $32.8 million, contributing to a volume-to-market cap ratio of 7.14%, suggesting a moderate level of market interest. The moving averages indicate a bearish trend, with the 144 SMA showing a decline of 4.33%, while shorter-term SMAs are also down slightly, signaling potential downward pressure.

The 1-hour RSI is positioned at 53, suggesting neutrality, while the 7-day RSI at 41 indicates that the asset may be oversold. The recent price changes reflect a downward trend, with a 7-day decline of over 11% and a 14-day decline of approximately 10.66%, contrasting with a 30-day increase of nearly 3%.

Injective's all-time high of $52.62 reached in March 2024 remains significantly above the current price, reflecting considerable room for potential recovery. However, the current technical indicators and price trends suggest that short-term momentum is lacking.

Given the current market conditions, including bearish moving averages and a downward price trend, a cautious approach is warranted. Therefore, the rating for Injective (INJ) is a Hold, with a recommendation to monitor for potential reversal signals before making further investment decisions.