Internet Computer (ICP) is currently priced at $2.05, reflecting a 24-hour decline of 2.09%. The daily trading range has been tight, with a high of $2.12 and a low of $2.02, indicating a lack of volatility in the short term.

Trading volume stands at approximately 50.93 million, representing 4.53% of the market cap, which suggests moderate interest but not substantial buying pressure. The hourly moving averages show a downward trend, with the 8 SMA at $2.07 and the 55 SMA significantly lower at $2.11, indicating bearish momentum over the past hours.

The Relative Strength Index (RSI) readings reflect a neutral short-term outlook at 50 for the 1-hour interval, while the 7-day RSI at 42 indicates that the asset is approaching oversold territory. The price has seen significant declines over the past week, down 14.09%, with even more pronounced drops over the past 30 days at nearly 40%.

Given the persistent downward pressure and the significant deviation from its all-time high of $700.65, the current bearish sentiment appears to be entrenched. With the moving averages aligning downwards and the RSI indicating potential overselling, caution is warranted for new positions.

In summary, the combination of recent price performance, technical indicators, and volume metrics suggests a continued bearish outlook for ICP. Therefore, the recommendation is to hold positions rather than initiate new buys, as the asset remains under pressure with no clear signal for recovery in the near term.