Injective (INJ) is currently priced at $5.42, reflecting a 24-hour decline of 2.82%. The daily price range has been relatively tight, with a high of $5.79 and a low of $5.18, indicating low volatility in the short term.

Volume over the last 24 hours stands at approximately 71.3 million, translating to a volume-to-market cap ratio of 13.15%. This suggests that trading activity is robust, but the price movement is subdued, which may indicate indecision among traders.

Technical indicators reveal a mixed short-term outlook. The 1-hour RSI is at 36, signaling potential oversold conditions, while the 7-day RSI is at 49, reflecting a neutral stance. Moving averages indicate bearish pressure, particularly the 144 SMA at $5.59, which shows a decline of 3.03%.

The price has decreased significantly over longer periods, with a 30-day change of -25.6%. This trend may deter short-term investors, although the current price is significantly below its all-time high of $52.62, achieved on March 14, 2024.

Given the technical indicators and current price action, the immediate outlook for INJ is cautious. The combination of declining moving averages, a low RSI, and significant price decreases over the past month suggests that a further downturn is possible.

Recommendation: Hold. The price is currently stabilizing but lacks strong bullish signals; maintaining positions while monitoring for potential recovery could be prudent. Further confirmation of upward momentum is needed before making a buy decision.