The current price of Internet Computer (ICP) stands at $2.40, reflecting a slight decline of 1.82% over the past 24 hours. The daily trading range has been relatively narrow, with a high of $2.46 and a low of $2.34, suggesting limited volatility in recent trading sessions.

Trading volume has reached approximately 51.44 million, resulting in a volume-to-market cap ratio of 3.91%, which indicates moderate trading activity. However, the 7-day RSI at 45 suggests that ICP is approaching oversold territory, indicating potential for upward price movements if buying interest increases.

The hourly moving averages reveal a bearish trend, with the 8 SMA at $2.43 showing a decline of 1.39% and the longer 144 SMA at $2.48 declining by 3.25%. This downward pressure in short-term moving averages suggests a prevailing bearish sentiment, though the 1-hour RSI at 52 indicates a neutral position in the short term.

Over the last week, ICP has experienced a price decline of 8.49%, and the 14-day price change shows a more significant drop of 28.17%. The 30-day price performance also reflects a downturn of approximately 24.71%, emphasizing the ongoing bearish trend.

Given the significant historical all-time high of $700.65, the current price level of $2.40 indicates a substantial depreciation from previous highs. This price action, combined with negative momentum indicators and resistance at higher moving averages, suggests that ICP may continue to face downward pressure in the near term.

Based on the current analysis, the recommendation for Internet Computer (ICP) is to Hold. While the price shows signs of potential stabilization with the 1-hour RSI, the overall trend remains bearish, and significant resistance levels exist above the current price. Investors should monitor for signs of recovery before considering new positions.