Polkadot (DOT) is currently trading at $2.25, reflecting a slight decline of 1.35% over the last 24 hours. The price has oscillated between a high of $2.29 and a low of $2.24 during this period, indicating a relatively tight daily range of 0.05%.

Trading volume stands at approximately 86.37 million, contributing to a market cap volume ratio of 2.34%. The moving averages reveal a bearish sentiment, as the 8, 13, and 21 SMA values are all declining, with the 55 and 144 SMA showing more significant drops of 2.23% and 2.27%, respectively.

The 1-hour Relative Strength Index (RSI) is at 40, suggesting that DOT is nearing oversold conditions in the short term. In contrast, the 7-day RSI sits at 49, reflecting a neutral momentum, though the 7-day price change shows a decline of approximately 3.77%, further indicating weakness.

Longer-term trends are concerning, with a 14-day price change of -21.01% and a 30-day decline of nearly 22.80%. These figures suggest a sustained bearish trend that could deter potential buyers and indicate a lack of upward momentum.

Historically, DOT reached its all-time high of $54.98 in November 2021, and the current price represents a stark contrast to that peak. This significant depreciation highlights underlying challenges, including market sentiment and broader economic factors influencing cryptocurrencies.

Based on the current technical indicators and recent price movements, the recommendation for Polkadot (DOT) is a Hold. The combination of declining moving averages, negative short and long-term price changes, and neutral RSI levels suggest that while there may be short-term trading opportunities, significant downside risks remain.