Injective (INJ) is currently trading at $5.91, reflecting a significant 12.57% increase over the past 24 hours. The daily range indicates a stable upward momentum with a high of $5.89 and a low of $5.22, suggesting strong support levels below the current price.

Trading volume stands at approximately $85.96 million, which represents a robust 14.57% of the market cap, indicating healthy market interest. The hourly moving averages reveal a bullish trend, with the 8 SMA at $5.81 and the 13 SMA at $5.64, both showing positive gains, while the 21 SMA also confirms upward movement.

The 1-hour Relative Strength Index (RSI) is at an elevated level of 85, signaling that INJ is overbought in the short term, which could lead to a potential pullback. Conversely, the 7-day RSI is neutral at 50, suggesting that over a longer timeframe, there is balanced market sentiment.

Despite the recent bullish performance, the 14-day and 30-day price changes show declines of 10.35% and 19.45%, respectively, indicating a bearish trend in the longer term. The all-time high of $52.62 reached on March 14, 2024, emphasizes the significant distance from current levels, reflecting substantial room for future growth if the upward momentum can be sustained.

Given the current high RSI and previous price declines, a cautious approach is warranted. Therefore, I recommend a Hold rating for Injective (INJ), as the short-term bullish trend may face resistance, and investors should monitor for further confirmation of a trend reversal before taking additional positions.