Injective (INJ) is currently trading at $3.52, reflecting a significant decline of 11.76% over the past 24 hours. The price has ranged between a high of $4 and a low of $3.38 during this period, indicating heightened volatility and selling pressure.

Trading volume stands at approximately $80.2 million, with a volume-to-market cap ratio of 22.85%, suggesting that the asset is experiencing substantial trading activity relative to its market capitalization. The daily range of 0.62% further illustrates the limited price movement, which is indicative of bearish sentiment in the short term.

Technical indicators show that all short-term moving averages (8 SMA, 13 SMA, and 21 SMA) are trading significantly below the current price, reinforcing the bearish trend. The 55 SMA and 144 SMA also reflect declining values, with respective declines of 11.92% and 17.22%, indicating persistent downward pressure on the price.

The 1-hour Relative Strength Index (RSI) is at an extreme low of 6, suggesting that INJ is severely oversold in the short term. Meanwhile, the 7-day RSI of 40 and the significant price declines over the past 7, 14, and 30 days (-22.29%, -34.47%, and -21.53% respectively) further affirm a lack of bullish momentum.

Given the current market dynamics, including the sharp price drop, bearish moving averages, and oversold RSI levels, a consolidation phase may occur before any potential recovery. However, with no immediate bullish signals and continued selling pressure evident in both technical and fundamental data, the outlook remains negative.

Rating: Sell. The combination of substantial price decline, bearish technical indicators, and oversold conditions suggests that further downside risk remains. Investors should consider exiting their positions until clearer bullish signals emerge.