Polkadot (DOT) is currently priced at $2.20, reflecting a 4.19% increase over the past 24 hours, with a daily trading range of $2.11 to $2.37. The volume stands at approximately 260.64 million DOT, which represents 7.21% of its market cap, indicating a moderate level of trading activity relative to its overall market size.

The short-term moving averages show a mixed sentiment, with the 8 SMA at $2.23, down 1.17%, and the 21 SMA at $2.26, down 2.47%. However, the longer-term SMAs, such as the 55 SMA at $2.18 and the 144 SMA at $2.17, are showing a slight upward trend, suggesting potential support levels in the near term.

The RSI metrics indicate a concerning trend, with the 1-hour RSI at 25, signaling oversold conditions and potential for a short-term bounce. The 7-day RSI of 47 indicates a neutral trend, while the 14-day RSI of approximately 46 reinforces the lack of bullish momentum, especially considering a 30-day price change of -31.91%.

Despite the recent price recovery, Polkadot's overall trend remains bearish, as reflected in the 7-day and 14-day price changes of -4.20% and -3.07% respectively. Additionally, the significant gap from its all-time high of $54.98 underscores the current market challenges and lack of investor confidence.

In summary, while the recent price increase may suggest a temporary rebound, the longer-term indicators and RSI levels point toward a continuation of the bearish trend. Therefore, the recommendation for Polkadot (DOT) is to Hold, as entering new positions could carry considerable risk until clearer bullish signals emerge.