Injective (INJ) is currently trading at $4.35, reflecting a 24-hour decline of 4.42%. The daily price range has been relatively tight, oscillating between a low of $4.33 and a high of $4.56, which indicates limited volatility.

Trading volume stands at approximately 32 million, translating to a volume/market cap ratio of 7.36%. This suggests moderate trading activity, but the negative price trend may be limiting investor interest and participation.

Short-term moving averages are bearish, with the 8 SMA at $4.44 showing a decline of 2.13%. The 55 SMA at $4.54 is down 4.14%, indicating that downward momentum is persisting across multiple timeframes.

The 1-hour RSI is at 23, indicating that INJ is currently in oversold territory, suggesting potential for a short-term rebound. However, the 7-day RSI is at 45, which does not signal strong bullish momentum and reflects a lack of buying pressure over the week.

From a longer-term perspective, INJ has seen a significant decline with a 7-day price change of -16.17% and a 14-day price change of -17.55%. This trend highlights ongoing selling pressure, contributing to investor caution.

The all-time high of $52.62 reached on March 14, 2024, underscores the current price's steep discount, but current market conditions do not support a bullish turnaround in the near term. The overall sentiment remains negative, with several indicators suggesting continued downward pressure.

In conclusion, based on the current data and technical indicators, the recommendation for Injective (INJ) is to Hold. The oversold condition presents potential for a short-term bounce, but the overarching trend remains bearish, warranting caution before committing additional capital.