Polkadot (DOT) is currently trading at $2.04, reflecting a significant decline of 7.35% over the last 24 hours. The daily price range has been minimal, confined to a low of $2.04 and a high of $2.30, indicating low volatility during this period.

Volume stands at approximately 252.94 million, corresponding to 7.51% of the market cap, suggesting active trading but also a potential lack of investor confidence. The price has shown a substantial downtrend, with the 7-day price change at -12.34% and a 30-day change of -35.85%, indicating bearish momentum over both short and medium-term timeframes.

Technical indicators reveal a troubling situation for DOT, particularly the hourly RSI at 7, which suggests extreme oversold conditions. In contrast, the 7-day RSI at 45 indicates the asset is nearing neutral territory, although the prevailing trend remains downward as indicated by the moving averages, with the 8 SMA at $2.06 showing a decline of 1.17%.

Given the persistent downtrend in price and the negative momentum reflected in both the moving averages and RSI readings, it is clear that Polkadot is under pressure. The asset has significantly retraced from its all-time high of $54.98, and the lack of buying interest at current levels raises concerns.

In conclusion, the combination of declining prices, bearish technical indicators, and negative momentum suggests that DOT is not in a favorable position for investment. Therefore, the rating for Polkadot (DOT) is a Sell, as the current market conditions do not support a bullish outlook in the near term.