Internet Computer (ICP) is currently trading at $2.39, experiencing a notable 24-hour decrease of approximately 4.85%. The price has fluctuated between a daily high of $2.55 and a low of $2.37, reflecting a tight range of 0.18% which indicates limited volatility in the short term.

The trading volume over the last 24 hours stands at 49,176,247, corresponding to a volume-to-market cap ratio of 3.74%, suggesting moderate trading activity relative to its market capitalization. The hourly moving averages indicate bearish trends, with the 8 SMA at $2.39, slightly below the current price, while the longer-term moving averages (21 SMA and 55 SMA) show deeper declines, highlighting ongoing downward pressure.

The 1-hour RSI is at 27, indicating that ICP is currently in oversold territory, which may suggest a potential for a short-term rebound. In contrast, the 7-day RSI at 50 shows a neutral sentiment, while the 14-day price change of -10.82% and 30-day change of -42.09% reflect a significant downward trend over both short and medium-term periods.

Despite the oversold condition on the 1-hour RSI, the longer-term trend remains bearish, as reflected in the substantial price drops over the past month and the lack of significant buying momentum. The all-time high of $700.65 established in May 2021 further emphasizes the current undervaluation of ICP, but the recent performance indicates a struggle to regain upward momentum.

Given the current technical indicators and the ongoing bearish trend, the recommendation is to hold ICP at this time. While a short-term recovery might occur due to oversold conditions, the overall downward trajectory and lack of strong bullish signals suggest that entering new positions carries high risk without clearer signs of reversal.