Polkadot (DOT) is currently trading at $1.25, showing a slight decline of 0.44636% over the past 24 hours. The daily trading range has been minimal, with a high of $1.31 and a low of $1.25, indicating limited volatility in the current market conditions.

The trading volume stands at 129,599,790, which constitutes 6.19% of the market cap, suggesting moderate liquidity. However, the hourly moving averages indicate bearish sentiment, with the 8 SMA at $1.27 reflecting a decline of 1.37% and the longer-term SMAs also trending negatively, particularly the 144 SMA at $1.32 down 5.19%.

Momentum indicators reveal a weak short-term outlook, as the 1-hour RSI is at 31, indicating oversold conditions. Meanwhile, the 7-day RSI is at 45, which is approaching neutral territory but remains indicative of downward pressure, especially considering the price has dropped over 9% in the last week.

Over the past 30 days, DOT has experienced a significant decline of approximately 34.21%, signaling a challenging market environment. The historical all-time high for DOT was $54.98 in November 2021, emphasizing the drastic correction and current undervaluation compared to its peak.

Given the persistent downward trends in both price and momentum indicators, a cautious approach is warranted. The combination of weak volume, bearish moving averages, and oversold RSI levels suggests a potential short-term recovery may not be imminent.

Based on the current data, a Sell rating is advised. The market sentiment and technical indicators do not support a bullish reversal in the near term, and it may be prudent to exit positions until more favorable conditions emerge.