Internet Computer (ICP) is currently priced at $2.41, showing a minor 24-hour change of 0.81%. The daily trading range has been relatively tight, with a high of $2.56 and a low of $2.37, indicating a constrained market sentiment.

Volume stands at approximately 85 million, contributing to a volume-to-market cap ratio of 6.45%. This suggests that while there is some trading activity, it remains below the levels typically seen in more active markets, reflecting a lack of strong buyer or seller conviction.

The short-term moving averages reveal a bearish trend, with the 8 and 13 SMA both reflecting a decline of around 4.13% and 4.16%, respectively. The longer-term 144 SMA at $2.59 indicates a significant distance from current prices, suggesting that the price may continue to face downward pressure.

Technical indicators show a concerning 1-hour RSI of 29, indicating that ICP is oversold in the short term. The 7-day RSI of 46, while not oversold, highlights a lack of bullish momentum, particularly as the asset has experienced a 17.69% decline over the past week and a more substantial drop of over 31% in the last 14 days.

Given the overall market conditions and technical signals, ICP appears to be in a downtrend with limited buying interest. The proximity of the price to the lower end of the daily range suggests a cautious stance is warranted.

Based on the analysis of current price action, volume, and technical indicators, the recommendation for ICP is to Hold. The asset shows potential for recovery if it can consolidate above the $2.50 mark, but continued weakness may lead to further declines.