Internet Computer (ICP) is currently trading at $2.26, reflecting a significant decline of 12.11% over the last 24 hours. The price has been volatile within a daily range of $2.08 to $2.59, indicating a market grappling with selling pressure and investor uncertainty.

The trading volume stands at approximately $150.5 million, translating to a volume-to-market cap ratio of 12.14%, which suggests heightened activity but may also indicate a lack of sustained buying interest. Key moving averages show bearish trends, with the 8 SMA at $2.34 and declining, while longer-term SMAs reflect even steeper losses, such as the 144 SMA at $2.68, down 15.53%.

The Relative Strength Index (RSI) metrics indicate strong bearish momentum, with a 1-hour RSI of 17, signaling oversold conditions. The 7-day RSI at 39 further supports this weakness, showing a lack of buying pressure and indicating potential for further declines in the short term.

In terms of longer-term performance, ICP has seen a significant downturn, with a 7-day price change of -24.63%, a 14-day change of -38.08%, and a 30-day change of -31.13%. This sustained negative trend suggests that the market sentiment is heavily tilted towards selling rather than buying.

Given the current technical indicators, bearish momentum in moving averages, and extremely low RSI levels, the recommendation is to hold ICP at this time. The likelihood of further declines remains high, and investors should wait for clearer signs of reversal or stabilization before considering any new positions.