Internet Computer (ICP) is currently trading at $3.17, reflecting a 24-hour decline of 3.63%. The price has oscillated between a high of $3.31 and a low of $3.16 in the last day, indicating a daily range of 0.15% which suggests limited volatility.

The trading volume stands at approximately 42.14 million, resulting in a volume-to-market cap ratio of 2.45%, indicating moderate liquidity. However, the hourly moving averages are showing bearish trends, with the 8 SMA at $3.23 down by 1.97%, and the longer-term 144 SMA at $3.39 down by 6.54%, suggesting sustained downward pressure.

Momentum indicators are also bearish, with the 1-hour RSI at 29, which typically indicates an oversold condition, while the 7-day RSI is at 45, suggesting a potential for further downside. The price has experienced significant declines over the past 7 days, 14 days, and 30 days at -5.63%, -19.84%, and -44.76% respectively, highlighting a strong downtrend.

Given the substantial retracement from its all-time high of $700.65, the current price represents a significant disconnect from its historical valuation. This downtrend, coupled with low momentum and bearish moving averages, suggests that the market sentiment is overwhelmingly negative at this stage.

Based on the current analysis, the recommendation for ICP is to Hold. While the market is showing oversold conditions, the continued downward momentum and negative price changes indicate that further declines could be likely before any potential recovery. Investors should consider waiting for signs of stabilization or reversal before making new purchases.