Injective (INJ) is currently trading at $5.83, reflecting a slight decline of 0.52% over the past 24 hours. The price action shows a daily range between a high of $6.02 and a low of $5.58, indicating relatively low volatility with a daily range of 0.44%.

Trading volume stands at approximately 87.46 million, translating to a volume-to-market cap ratio of 14.97%, which suggests a healthy level of trading activity relative to its market capitalization. The hourly moving averages indicate bullish momentum, with the 8 SMA at $5.64 showing a gain of 3.29%, and the 13 SMA at $5.65 reflecting a 3.12% increase, signaling potential upward price action in the short term.

The 1-hour RSI is at 63, indicating that INJ is approaching overbought territory, which could lead to some price correction. Meanwhile, the 7-day RSI is neutral at 50, suggesting that there is no immediate trend direction over the past week, while the 7-day and 14-day price changes show slight downtrends of -1.90% and -3.07%, respectively.

In the longer term, INJ has seen a substantial decline of approximately 28.01% over the past 30 days, which raises concerns about the sustainability of any current upward momentum. However, the all-time high of $52.62 reached earlier this year provides a significant psychological resistance level that could attract buyers at lower price points.

Given the mixed signals from technical indicators and the recent bearish trend, a cautious approach is advisable. Therefore, the recommendation is to Hold, as the current price action shows potential for short-term gains, but the longer-term downtrend and the proximity to overbought levels warrant careful observation before entering a new position.