Polkadot (DOT) is currently trading at $1.34, reflecting a 5.06% increase over the past 24 hours. The trading range has been between $1.27 and $1.40, indicating relatively low volatility with a daily range of only 0.13%.

The volume for the last 24 hours stands at approximately 215.82 million DOT, which represents about 9.70% of its market cap, suggesting healthy trading activity. However, the hourly and 7-day RSI values are at 48 and 44 respectively, indicating that DOT is approaching oversold conditions but lacks strong bullish momentum.

On a longer-term basis, DOT has seen significant price declines, with a 7-day change of -19.69%, a 14-day drop of -30.86%, and a 30-day decrease of -36.55%. This downward trend is reflected in the moving averages, as both the 55 SMA and 144 SMA show negative shifts of -0.82% and -7.71%, respectively.

The current price is also considerably lower than its all-time high of $54.98, achieved in November 2021, highlighting the substantial retracement that DOT has undergone. The overall technical indicators suggest that the asset is in a corrective phase, and despite the recent uptick, the long-term momentum remains bearish.

Given the current price action, technical indicators, and volume metrics, the recommendation for Polkadot (DOT) is a Hold. While there has been a short-term gain, the persistent downtrend and lack of strong buying signals suggest that investors should maintain their positions and await clearer bullish signals before considering new purchases.