Polkadot (DOT) is currently trading at $1.90, reflecting a 24-hour change of -2.914%. The price has seen a daily range between $1.84 and $2.01, indicating a relatively tight trading band but with bearish momentum evident in the negative price change.

The volume stands at approximately 221.99 million DOT, which equates to 7.12% of the market cap, suggesting active trading but also potential liquidity concerns at lower price levels. Technical indicators show that the hourly moving averages are all declining, with the 8 SMA at $1.96 and the 55 SMA at $2.00, indicating a sustained downtrend over multiple periods.

The 1-hour RSI is at 30, which signals an oversold condition, while the 7-day RSI is at 38, indicating bearish momentum. Over the past week, DOT has lost approximately 11.83%, and the 30-day price change reveals a significant decline of 32.78%, highlighting a prolonged downturn.

With the all-time high of $54.98 reached in November 2021, the current price represents a substantial depreciation. Given the consistent downtrend across multiple time frames, along with declining moving averages and bearish RSI readings, it suggests that sellers are still in control.

Based on the analysis of current price action, technical indicators, and broader market sentiment, a Sell rating is warranted. The market shows no immediate signs of reversal, and further downside may be likely in the short term.