Internet Computer (ICP) is currently priced at $2.36, reflecting a significant 12.03% drop over the past 24 hours. The daily trading range has been narrow, with a low matching the current price, indicating a potential consolidation phase or a bearish sentiment prevailing in the market.

Volume has been recorded at 107,426,148, translating to a volume-to-market cap ratio of 8.27%. This suggests moderate trading activity, although the decrease in price raises concerns about demand, as reflected in the declining hourly moving averages, with the 8 SMA at $2.47 showing a -4.39% change.

Technical indicators highlight that the 1-hour RSI stands at 38, indicating the asset is approaching oversold territory. Conversely, the 7-day RSI at 53 suggests a more neutral momentum, which might be underpinned by a recent positive price change of approximately 7.69% over the week, although this is offset by a decline of 24.61% over the past 30 days.

The moving averages show a bearish trend in the short term, particularly with the 13 SMA and 21 SMA both at around $2.47, reflecting declines of over 4%. However, the 144 SMA at $2.26 presents a slight positive trend of 4.38%, suggesting possible support and a potential reversal point if price action stabilizes around this level.

Given the current market conditions, ICP is facing significant downward pressure, with short-term bearish signals dominating and a lack of immediate upward momentum. Therefore, the recommendation is to Hold ICP at this time, allowing for further analysis as the market stabilizes or shows signs of recovery. A clearer entry point may emerge if the price can break above the 144 SMA, providing a more favorable risk-to-reward scenario for potential buying.