Polkadot (DOT) is currently priced at $1.99, reflecting a notable 9.87% increase over the past 24 hours. The asset has demonstrated volatility within a daily range of $1.80 to $2.01, indicating potential for short-term trading opportunities.

Trading volume stands at approximately 241 million, equating to 7.35% of the market cap, suggesting active market participation. The hourly moving averages reveal mixed signals, with the 55 SMA showing a robust increase of 6.56%, while the 8 SMA has a marginal uptick of 0.14%, indicating some short-term bullish sentiment.

The 1-hour RSI is positioned at 40, suggesting that DOT is nearing oversold territory in the short term. Conversely, the 7-day RSI at 57 indicates that the asset is closer to neutral, reflecting a healthier trend over the longer term.

Over the past week, DOT has gained approximately 15.68%, showing strong recovery momentum after a significant decline of 13.41% over the past 30 days. This rebound in price suggests that investor sentiment may be shifting positively, although caution is warranted due to recent market fluctuations.

The all-time high for Polkadot remains significantly elevated at $54.98, underscoring its long-term potential. However, the current price is substantially below this peak, indicating a potential for growth if bullish sentiment continues to build.

Given the current technical indicators and price movements, a Buy rating is recommended. The combination of strong weekly gains, positive volume metrics, and a favorable longer-term outlook supports an accumulation strategy at current levels.