Internet Computer (ICP) is currently trading at $3.12, reflecting a 24-hour decline of 5.94%. The price has shown a daily range of just 0.2%, indicating limited volatility, with a high of $3.32 and a low matching the current price.

The trading volume stands at approximately 65.42 million, representing 3.84% of its market capitalization. This volume suggests a moderate level of interest among traders, although the recent downward movement may indicate profit-taking or bearish sentiment.

Technical indicators show bearish pressure, with the 1-hour RSI at 32, signaling potential oversold conditions. The short-term moving averages, particularly the 8 SMA at $3.18 and the 13 SMA at $3.20, are trending downward, reinforcing the lack of upward momentum in the immediate term.

Despite a 7-day price change of 6.73%, the longer-term perspective reveals a decline of 7.85% over the last 30 days. This suggests that while there was a recent uptick, the broader trend remains negative, highlighting potential resistance at higher price levels.

With the all-time high of $700.65 achieved in May 2021, current levels indicate a significant depreciation, reflecting the challenges faced by ICP in regaining investor confidence. The 7-day RSI at 52 suggests that while the asset is not currently overbought, it remains in a neutral territory, lacking a clear bullish signal.

Given the current technical indicators, bearish price action, and the lack of significant upward momentum, a Hold rating is advised. Investors should monitor for signs of reversal or confirmation of further bearish trends before making additional commitments to the position.