Injective (INJ) is currently priced at $8.48, exhibiting a marginal 24-hour change of 0.11%. The daily price range has been relatively tight, fluctuating between a high of $8.54 and a low of $8.35, indicating low volatility in the short term.

Trading volume stands at approximately 58.89 million, contributing to a market cap volume ratio of 7.11%. This suggests a healthy trading activity level compared to its market capitalization, although it remains lower than more volatile assets.

In terms of moving averages, the short-term indicators (8, 13, and 21 SMA) are slightly bullish, each showing a positive change, while the 144 SMA is significantly bearish at $9.03, reflecting a longer-term downtrend of 6.04%. The fact that all short-term SMAs are closely aligned suggests a potential sideways movement, as there is insufficient momentum to trigger a breakout.

The Relative Strength Index (RSI) readings indicate that INJ is neither overbought nor oversold, with the 1-hour RSI at 46 and the 7-day RSI at 45. The 7-day price change shows a modest increase of about 2.05%, while the 14 and 30-day changes reveal significant declines of over 32% and 42%, respectively, suggesting that INJ has been in a longer-term downtrend.

The all-time high for INJ remains at $52.62, reached earlier this year, which places the current price at a substantial discount. Given the persistent downtrend over the last month, alongside a lack of strong bullish signals in moving averages and RSI, the risk of further declines remains significant.

In conclusion, the overall market conditions indicate a lack of bullish momentum for Injective. Therefore, the recommendation is to Hold at this time, awaiting clearer signs of a trend reversal or increased buying volume before considering a Buy.