Internet Computer (ICP) is currently trading at $2.30, reflecting a notable 9.64% increase over the past 24 hours. The asset has shown strong volatility, with a daily range of $2.10 to $2.29, indicating an active trading environment.

The volume of $62,045,629 accounts for 4.91% of the market cap, suggesting a healthy level of trading activity relative to its market size. The short-term moving averages indicate a bullish trend, with the 55 SMA showing a 9.61% increase, which is the highest among the analyzed periods.

The 1-hour RSI is at 78, indicating that ICP may be overbought in the short term, while the 7-day RSI at 54 shows a neutral position, suggesting that the asset is stabilizing after recent declines. Over the past 7, 14, and 30 days, ICP has experienced price drops of 1.19%, 1.87%, and 30.81%, respectively, highlighting significant downward pressure in the medium to long term.

Despite the recent positive momentum, the long-term trend remains concerning given the drastic decline from the all-time high of $700.65. The substantial drop over the past 30 days reinforces the need for caution among traders.

Considering the current price action and the technical indicators, the recommendation is to Hold ICP at this time. While the short-term increase is promising, the long-term bearish trend and overbought conditions suggest that investors should be cautious before making new purchases.