Injective (INJ) is currently priced at $3.14, reflecting a significant 6.08% decline over the past 24 hours. The price has oscillated between a high of $3.38 and a low of $3.12 during this period, indicating a tight daily range of 0.26%.

Trading volume stands at 60,013,408, representing a volume-to-market cap ratio of 19.10%, which is relatively healthy and suggests active trading interest. However, the hourly moving averages indicate bearish momentum, with the 8 SMA at $3.18 showing a decline of 1.30% and the 144 SMA at $3.41 down 7.93%.

The 1-hour RSI is currently at 34, indicating that INJ may be entering oversold territory, while the 7-day RSI at 51 shows a neutral trend. Despite the recent volatility, the 7-day price change is up 1.17%, and the 14-day price change is positive at 3.50%, though the 30-day trend remains significantly negative at -26.20%.

Given the current bearish momentum reflected in the moving averages and the RSI indicators, the market sentiment appears cautious. The price is still well below its all-time high of $52.62, which highlights a stark contrast between current levels and potential upside.

Based on this analysis, the recommendation for Injective (INJ) is to Hold. While the recent price action suggests some oversold conditions, the overall bearish trend and moving averages do not provide a strong case for buying at this time. Maintaining a hold position allows for potential recovery while monitoring further technical indicators.