Injective (INJ) is currently priced at $3.17, reflecting a 24-hour decline of 4.48%. The daily trading range has been relatively tight, with a low of $2.74 and a high of $3.36, indicating some volatility but overall bearish sentiment.

The trading volume stands at 158,133,789, contributing to a market cap volume ratio of 49.88%, which is relatively high, suggesting strong trading interest. However, the price has shown a significant negative trend over longer periods, with a 30-day price change of -41.71%, which raises concerns about sustained downward pressure.

The hourly moving averages indicate mixed signals; the 8 SMA and 13 SMA show bullish momentum at $3.08 and $3.05, respectively, but the 55 SMA at $3.35 and the 144 SMA at $3.52 suggest resistance levels that may hinder upward movement. The 1-hour RSI at 66 indicates that INJ is nearing overbought territory, while the 7-day RSI at 45 reflects a lack of bullish momentum over the past week.

Fundamentally, the significant price drops over the past 7 and 14 days, at -21.32% and -30.70%, respectively, underline a bearish trend that could be driven by broader market conditions or specific challenges within the Injective ecosystem. The all-time high of $52.62 reached earlier this year emphasizes the steep decline from previous highs, indicating a substantial loss of market confidence.

Considering the current price action, moving averages, and RSI indicators, the immediate outlook for INJ remains bearish despite short-term buying opportunities suggested by hourly indicators. Therefore, the recommendation for Injective (INJ) is to Hold as it may be prudent to wait for signs of stabilization or a reversal before committing to a bullish position.