Polkadot (DOT) is currently priced at $2.27, reflecting a 24-hour decline of 1.75%. The daily trading range has been narrow, with a high of $2.31 and a low of $2.25, indicating limited volatility in recent trading activity.

The trading volume stands at approximately 101.4 million DOT, which corresponds to a market cap volume ratio of 2.73%. This relatively low volume suggests a lack of strong investor interest at current price levels, especially given the price action over the past week, which has seen a decline of 1.70%.

From a technical perspective, the short-term moving averages are all positioned below the current price, with the 8 SMA at $2.27 and showing a slight downward trend of 0.19%. The RSI metrics indicate bearish momentum, with the 1-hour RSI at 36 suggesting oversold conditions, while the 7-day RSI at 49 indicates a neutral trend that lacks strong buying pressure.

Over the longer term, Polkadot has experienced significant price declines, with a 14-day change of -21.12% and a 30-day change of -20.82%. The all-time high of $54.98 highlights the extent of the downward trend since November 2021, with current prices being approximately 95.9% lower than that peak.

In conclusion, despite the oversold conditions indicated by the short-term RSI, the lack of bullish momentum and the declining moving averages suggest a continued bearish outlook for Polkadot. Therefore, the recommendation is to Hold, as potential stabilization may occur, but caution is warranted given the prevailing downward trends.