Injective (INJ) is currently priced at $3.04, reflecting a 24-hour decrease of 2.68%. The daily trading range has been narrow, oscillating between a high of $3.13 and a low of $3.00, indicating limited volatility in the short term.

The volume of 34,257,653 indicates a healthy level of trading activity, with a volume-to-market cap ratio of 11.29%. Short-term moving averages show a slight bearish trend, particularly the 55 SMA at $3.13, which is down 2.86%, while the 144 SMA at $3.20 has declined by 4.95%, further signaling downward momentum.

The RSI metrics suggest a lack of momentum; the 1-hour RSI stands at 43, and the 7-day RSI is slightly lower at 44. Both indicators are below the neutral threshold of 50, which may point to continued selling pressure or a potential consolidation phase.

Over the past week, INJ has declined by approximately 16.72%, and the longer-term trends are even more concerning, with a 14-day price change of -31.64% and a 30-day decline of -42.26%. These figures indicate a significant downward trajectory and suggest that the asset is currently in a bearish phase.

Given the recent price action, RSI readings, and overall market sentiment, the outlook for Injective appears negative. Therefore, I recommend a Sell rating, as the current indicators suggest further downside potential and lack of bullish reversal signals in the immediate term.