Polkadot (DOT) is currently trading at $2.06, showing a significant 24-hour decline of 7.37%. The price has fluctuated between a high of $2.30 and a low of $2.06 during this period, indicating a tight daily range of 0.24%.

The trading volume stands at approximately $237.67 million, with a volume-to-market cap ratio of 7.03%, suggesting moderate liquidity but potential volatility in the current market conditions. Short-term moving averages reflect a bearish trend, with the 8-period SMA at $2.12 showing a decline of 2.85%, and longer SMAs also indicating consistent downward momentum.

The 1-hour RSI is critically low at 20, signaling oversold conditions and potential for a price rebound, while the 7-day RSI at 45 suggests the asset is nearing neutral territory but still lacks upward momentum. Over the past week, DOT has seen a price decrease of approximately 12.51%, and a significant decline of 34.78% over the last 30 days, indicating sustained bearish pressure.

Polkadot’s all-time high of $54.98 remains a distant target, emphasizing the need for substantial recovery before re-entering bullish territory. Given the current market dynamics, including declining price trends and bearish moving averages, caution is warranted.

In conclusion, while there is a potential for a short-term rebound given the oversold RSI levels, the overall trend remains negative. Therefore, the recommendation for Polkadot (DOT) is to Hold, as the market conditions do not favor aggressive buying until a more definitive trend reversal is observed.