Injective (INJ) is currently trading at $5.94, reflecting a 24-hour change of -1.34%. The price has exhibited a daily range of $0.17, with a high of $6.07 and a low of $5.90, indicating relatively low volatility in the past day.

Trading volume stands at approximately 46.76 million, which corresponds to a volume-to-market cap ratio of 7.87%. This level of volume suggests moderate interest in the asset, although it may not be sufficient to indicate a strong directional move in the short term.

Analyzing the moving averages, the 8, 13, and 21-hour SMAs are all below the current price, indicating a slight bearish sentiment in the immediate term, while the 144 SMA shows a positive trend. The slight divergence between short-term and long-term averages indicates potential consolidation around the current price level.

The 1-hour Relative Strength Index (RSI) is at 45, suggesting that INJ is nearing neutral territory, while the 7-day RSI at 54 indicates a more balanced market position. However, the 14-day price change of -11.95% and 30-day change of -22.05% suggest that INJ has been under pressure over the longer term.

Given the significant distance from the all-time high of $52.62, which was reached on March 14, 2024, the current price reflects a substantial pullback. In the context of both short-term and long-term trends, the asset shows signs of weakness and consolidation at these levels.

In summary, the current bearish momentum, combined with the recent price changes and RSI indicators, suggests that INJ is not positioned for immediate upward movement. Therefore, the recommendation is to Hold INJ for now, as the asset may need further confirmation of stability and upward momentum before considering a Buy.