Internet Computer (ICP) is currently trading at $3.46, reflecting a 24-hour decline of 4.50%. The daily trading range has been relatively tight, with a low of $3.42 and a high of $3.68, suggesting a lack of volatility amid this downturn.

Volume has reached 83,602,154, representing 4.41% of the market cap, which indicates moderate trading activity. The hourly moving averages show a bearish trend, with the 8 SMA at $3.49 down 0.77% and the 55 SMA at $3.61 down 4.19%, signaling short-term weakness in the price action.

Momentum indicators are also showing weakness, with the 1-hour RSI at 35, indicating potential oversold conditions. Conversely, the 7-day RSI at 45 suggests the asset is still within a neutral zone but approaching oversold territory.

Over the past week, ICP has experienced a significant price decline of approximately 16.19%, while the 14-day price change shows a recovery of about 8.82%. However, the 30-day price change is positive at 14.87%, indicating some resilience in the longer-term outlook.

The all-time high for ICP remains at $700.65, recorded in May 2021, highlighting the drastic depreciation from its peak. Current price levels represent a substantial discount, yet the ongoing bearish sentiment raises concerns about a sustained recovery.

Given the combination of bearish technical indicators, declining momentum, and the significant recent price drop, the recommendation for Internet Computer (ICP) is to Hold. This strategy allows for monitoring of potential stabilization or reversal signals while avoiding the risk of further declines in the current market environment.