Internet Computer (ICP) is currently priced at $2.23, reflecting a 24-hour decline of 6.41%. The price has fluctuated between a high of $2.38 and a low of $2.23 within the same timeframe, indicating a minimal daily range of 0.15%.

Trading volume over the past 24 hours stands at approximately 44.17 million, which constitutes 3.60% of the market capitalization. The hourly moving averages show a consistent downward trend, with the 8 SMA at $2.33 and a decline of 4.48%, indicating short-term bearish sentiment.

The 1-hour RSI at 17 suggests that ICP is significantly oversold, indicating potential for a short-term price rebound. In contrast, the 7-day RSI at 47 indicates a neutral position, while longer-term metrics, such as the 14-day and 30-day price changes of -15.01% and -42.34%, reflect a broader bearish trend.

Given the current price level is considerably below key moving averages, with the 144 SMA at $2.40, it further emphasizes a lack of upward momentum. The all-time high of $700.65 reached in May 2021 highlights the extent of the current price decline, reinforcing that ICP is trading at a substantial discount from its historical peak.

In conclusion, while the oversold condition indicated by the low RSI may present a potential for short-term recovery, the overall downward trend and lack of bullish signals suggest caution. Therefore, I recommend a Hold rating, as the current price levels may not yet reflect a solid buying opportunity until clearer bullish indicators emerge.