Internet Computer (ICP) is currently priced at $2.27, experiencing a significant decline of 14.43% over the past 24 hours. The price has traded within a daily range of $2.24 to $2.65, reflecting high volatility amid bearish market sentiment.

The trading volume stands at approximately 113.89 million, with a volume-to-market cap ratio of 9.18%, indicating relatively low liquidity for this asset. Short-term moving averages show consistent downward pressure, with the 8 SMA at $2.49 and a decline of 8.73%, signaling bearish momentum.

The Relative Strength Index (RSI) metrics reveal oversold conditions, with the 1-hour RSI at 14 and the 7-day RSI at 39. This suggests potential for a short-term rebound; however, the longer-term RSI values indicate persistent weakness, as evidenced by a 7-day price change of -26.11% and a 14-day change of -37.23%.

Technical indicators show that ICP is significantly below its historical average prices, with all moving averages indicating downward trends. The 55 SMA is at $2.63, which is 13.64% above the current price, reinforcing the bearish outlook in the near term.

Given the combination of high selling pressure, oversold RSI levels, and the substantial declines in recent price history, the market is indicating a potential for a short-term recovery, but overall sentiment remains negative. The persistent downtrend and lack of bullish reversal signals warrant caution.

In conclusion, the recommendation for Internet Computer (ICP) is to Hold. Although the asset is oversold and may experience a short-term bounce, the broader bearish trend and substantial price declines suggest waiting for confirmation of a reversal before entering any long positions.