Injective (INJ) is currently priced at $6.32, reflecting a 24-hour decline of 4.45%. The asset's daily trading range was between a low of $6.16 and a high of $6.88, indicating a moderate level of volatility.

Volume stands at approximately 104 million, representing a 16.44% ratio of volume to market cap, suggesting a healthy level of trading activity. However, the recent 7-day price change of -19.94% and a 30-day drop of -24.61% highlight significant downward momentum over the past month.

Technical indicators reflect bearish sentiment, particularly the 1-hour RSI at 32, which indicates oversold conditions. Additionally, the 8, 13, and 21 SMAs are showing negative movements, with the 55 SMA demonstrating a more pronounced decline of 3.89%, suggesting a lack of short-term support.

Despite the price being well below its all-time high of $52.62, the market remains cautious due to the ongoing downtrend. The 144 SMA at $6.92 indicates potential resistance, further complicating any short-term recovery efforts.

Given the current market conditions and technical indicators, a Sell rating is warranted. The ongoing downtrend, combined with bearish momentum indicators, suggests that further declines are likely before any potential recovery.