Internet Computer (ICP) is currently trading at $3.94, reflecting a 24-hour decline of 2.28%. The daily price range has been tight, fluctuating between $3.93 and $4.16, indicating low volatility and a lack of strong buying or selling pressure.

Trading volume stands at approximately 84.6 million, contributing to a volume-to-market cap ratio of 3.96%. The declining hourly moving averages—8 SMA at $4.03, 13 SMA at $4.07, and others—suggest a bearish short-term trend as prices are consistently trading below these averages.

The 1-hour RSI is at a critically low level of 26, indicating that the asset is oversold and may be due for a short-term bounce. Conversely, the 7-day RSI at 48 suggests neutral momentum, while the 14-day RSI indicates sustained weakness, supporting the case for caution.

Price changes over different periods show a -3.90% decline over the past week and a significant -24.64% drop over the past two weeks. However, the 30-day change of +40.32% indicates that ICP has had a robust rally in the previous month, which may provide a cushion against further immediate declines.

Given the significant distance from the all-time high of $700.65, the current price reflects a substantial devaluation, but it also indicates potential for recovery. Current technical indicators, including the moving averages and low RSI, suggest a potential for a reversal in sentiment, especially if buying interest returns.

In conclusion, while ICP is facing short-term headwinds, the potential for a rebound exists given the oversold conditions. Therefore, a rating of Hold is appropriate as investors may benefit from waiting for a clearer trend reversal before making significant decisions.