Polkadot (DOT) is currently trading at $1.73, reflecting a slight decline of 0.75% over the past 24 hours. The daily trading range has been tight, with a high of $1.75 and a low of $1.66, indicating low volatility and potential consolidation.

Trading volume stands at approximately $143.66 million, contributing to a volume-to-market cap ratio of 5.03%. This suggests moderate market interest, yet the decreasing price trend in the short and medium term is concerning, particularly with a 7-day RSI of 45, indicating potential bearish momentum.

The short-term moving averages are mixed; the 8 and 21 SMA are relatively stable around $1.73 and $1.72, while the 55 SMA has declined to $1.74. The longer-term 144 SMA at $1.78 is showing a downward trend of 2.86%, reflecting a bearish sentiment over a larger timeframe.

Fundamentally, DOT's price has experienced significant declines of 24.39% over the past month and 16.53% over the past two weeks. The all-time high remains significantly distant at $54.98, suggesting a long-term bearish trend that needs to be addressed for bullish recovery.

In summary, while the current price action indicates some short-term stabilization, the overarching trend remains negative with declining moving averages and a low RSI. The outlook for Polkadot is currently bearish, and given the recent price performance and technical indicators, a Sell rating is warranted.