Internet Computer (ICP) is currently priced at $4.10, showing a 24-hour change of -2.91%. The daily trading range has been relatively tight, with a high of $4.28 and a low of $4.03, indicating a lack of volatility in the short term.

The trading volume over the last 24 hours stands at approximately 110.34 million, corresponding to a volume-to-market cap ratio of 4.97%. This suggests moderate trading activity, but the declining price trend raises concerns about potential selling pressure in the market.

From a technical perspective, the hourly moving averages are showing a bearish trend, with the 8 SMA at $4.09 gaining slightly, while the 13, 21, and 55 SMAs are all trending downward. The 1-hour RSI at 42 indicates that ICP is nearing oversold conditions, but not yet signaling a strong buying opportunity.

In terms of momentum, the 7-day RSI is at 47, which suggests the asset is neither overbought nor oversold but is leaning towards bearish sentiment. Additionally, the 7-day and 14-day price changes of -10.79% and -28.72%, respectively, highlight a significant downward trend in the medium term.

Conversely, ICP shows a positive price change of 33.24% over the past 30 days, which indicates a potential recovery phase that could be attracting speculative interest. However, this longer-term positive trend is overshadowed by the recent sharp declines, raising caution among traders.

Given the current market conditions, including bearish technical indicators, and the recent performance metrics, I recommend a Hold rating for ICP. This is due to the possibility of further declines in the near term, coupled with some potential for recovery in the longer term, necessitating a wait-and-see approach before taking new positions.