Injective (INJ) is currently trading at $3.07, reflecting a 24-hour change of -2.56%. The daily range has been narrow, with a high of $3.20 and a low of $3.05, indicating limited volatility in the market.

The trading volume stands at approximately $38.56 million, with a volume-to-market cap ratio of 12.57%, suggesting moderate liquidity. However, the moving averages indicate a bearish trend, with the 8 SMA at $3.15 down by 2.50%, and the longer-term averages (144 SMA at $3.26) showing even steeper declines.

The current one-hour RSI is at 35, indicating that INJ is approaching oversold territory, while the seven-day RSI of 43 suggests continued weakness in momentum. Over the past week, the price has decreased by approximately 16.60%, with a more significant decline of nearly 30.75% over the past two weeks, reflecting ongoing selling pressure.

With the all-time high of $52.62 reached on March 14, 2024, the current price represents a significant retracement, highlighting the challenges the asset faces in regaining investor confidence. The consistent downward trend in both short-term and long-term price changes suggests a bearish outlook for INJ in the immediate future.

Given the current technical indicators, ongoing downtrend, and weak momentum, a Sell rating is warranted. Market participants should consider exiting positions until there are clear signs of recovery or stabilization in price action.