Internet Computer (ICP) is currently trading at $3.30, reflecting a 24-hour decline of 3.49%. The daily price range has been tight, with a high of $3.43 and a low of $3.19, indicating a lack of volatility in the short term.

The trading volume stands at approximately 74.82 million, representing 4.14% of the market cap, which suggests moderate interest in the asset. The short-term moving averages (8 and 13 SMA) are showing a slight bullish trend, while the longer-term averages (21 SMA and 55 SMA) indicate bearish momentum, particularly as they are declining by 0.41% and 3.34%, respectively.

The 1-hour RSI at 42 suggests that ICP is approaching the oversold territory, indicating potential for a short-term bounce. Conversely, the 7-day RSI at 44 reflects a weak trend, and the price has experienced a significant drop of 22.77% over the past week, underscoring bearish sentiment.

In the longer term, ICP has demonstrated some resilience with a 5.63% increase over the last 14 days and a 9.50% rise over the last 30 days, which contrasts with the recent short-term weakness. However, the substantial distance from the all-time high of $700.65 indicates a long-term bearish outlook, with the price needing significant upward momentum to reclaim prior levels.

Given the current technical indicators and the mixed signals from the moving averages and RSI readings, a cautious stance is warranted. The recent price action suggests that ICP could continue to face downward pressure in the near term.

In conclusion, the recommendation is to Hold ICP at this time. While there is potential for short-term recovery, the overall trend and recent performance do not support a bullish outlook for new positions. Monitoring for signs of stabilization or reversal will be key before considering a Buy.