Internet Computer (ICP) is currently trading at $4.02, reflecting a 24-hour change of -2.03%. The daily trading range has been narrow, with a high of $4.22 and a low of $4.01, indicating low volatility within the current market environment.

The volume stands at approximately 143.9 million, corresponding to a volume-to-market cap ratio of 6.62%, which suggests moderate trading activity. However, the short-term moving averages indicate bearish momentum, with the 8, 13, and 21 SMA all below the current price and showing negative percentage changes, particularly the 55 SMA, which is down 2.41%.

The Relative Strength Index (RSI) values present a bearish outlook; the 1-hour RSI at 42 indicates near-term weakness, while the 7-day RSI at 38 suggests an oversold condition, typically associated with further downside potential. Over the past week, ICP has declined by approximately 19%, and over the past 14 days, the decline is even steeper at around 44%, reflecting ongoing selling pressure.

Despite a positive 30-day change of 28.56%, the longer-term trend is concerning, particularly with the all-time high of $700.65 in May 2021, which highlights the significant depreciation from its peak. The current price level is considerably distant from its historical highs, suggesting investor sentiment may be cautious, with many seeking potential exits.

Given the bearish indicators, particularly the downward movement in short-term SMAs and the RSI readings, ICP does not exhibit signs of a reversal at this stage. Therefore, the recommendation is to Hold, as further confirmation of a trend reversal is needed before considering any buying opportunities. A close below $4.01 could signal a continued downtrend, while a break above $4.22 may provide a more favorable entry point.