Polkadot (DOT) is currently priced at $1.89, reflecting a slight decline of 0.45% over the past 24 hours. The daily price range has been relatively narrow, with a high of $1.93 and a low of $1.88, indicating low volatility in the short term.

Trading volume stands at approximately 163 million DOT, equating to 5.26% of the market cap, suggesting moderate interest from investors. The hourly moving averages indicate a bearish trend, with the 8 SMA at $1.91 showing a decline of 0.83%, and the 144 SMA at $2.00 reflecting a more significant drop of 5.34%.

The 1-hour Relative Strength Index (RSI) is positioned at 51, suggesting a neutral market sentiment, while the 7-day RSI at 44 indicates a potential oversold condition. However, the 7-day and 14-day price changes of -16.36% and -16.78%, respectively, highlight ongoing bearish momentum, emphasizing the need for caution.

Polkadot's price has declined by 32.61% over the past 30 days, significantly distancing itself from its all-time high of $54.98 achieved in November 2021. This drastic drop indicates that the asset is currently underperforming relative to its historical price levels, raising concerns about investor confidence.

Considering the technical indicators and the overall bearish trend evident in both short and medium-term price movements, the recommendation for Polkadot (DOT) is a Hold. While there is potential for recovery, current market conditions suggest it is prudent to wait for clearer bullish signals before considering a Buy.