Polkadot (DOT) is currently trading at $2.26, reflecting a slight 24-hour increase of 1.25%. The daily price range has been relatively tight, with a high of $2.31 and a low of $2.19, indicating low volatility in the current market.

Trading volume stands at 165,576,119, contributing to a volume-to-market cap ratio of 4.46%. This relatively low volume suggests that market participants may be hesitant to take significant positions, possibly due to recent price trends.

The short-term moving averages indicate bearish momentum, with the 8 SMA at $2.28 showing a decline of 1.01%. The 13 SMA and 21 SMA further confirm this trend, both registering negative changes, while the longer-term 144 SMA at $2.35 reflects a more substantial decline of 3.96%.

Momentum indicators also portray a negative outlook, with the 1-hour RSI at 41 and the 7-day RSI at the same level, suggesting that DOT is nearing oversold territory but has not yet reversed. The 7-day, 14-day, and 30-day price changes reveal substantial downward momentum of -16.20%, -27.20%, and -28.05%, respectively, indicating a bearish trend over these periods.

Given the current price action, negative momentum indicators, and the substantial declines over the past month, the technical outlook for DOT remains weak. Furthermore, with the all-time high of $54.98 recorded in November 2021, the current price reflects a significant retracement, emphasizing potential long-term weakness.

Based on this analysis, I would assign a Sell rating for Polkadot (DOT) at this time. The combination of bearish moving averages, low trading volume, and prolonged downward price momentum suggests that investors may face further downside risk in the near term.