Polkadot (DOT) is currently priced at $1.48, reflecting a 24-hour decline of 4.41%. The daily trading range has been narrow, between $1.46 and $1.55, indicating low volatility amidst the selling pressure.

Volume stands at 198,674,736, representing a volume-to-market cap ratio of 8.10%, which suggests moderate trading activity relative to its overall market capitalization. The hourly moving averages indicate a bearish trend, with the 8 SMA at $1.51, showing a decline of 1.87%, and longer-term averages like the 144 SMA at $1.71 reflecting a 13.40% drop.

The Relative Strength Index (RSI) for the last hour is at 43, while the 7-day RSI is significantly lower at 38, suggesting that DOT is approaching oversold territory. However, the 7-day price change of -19.79% and the 14-day change of -25% indicate a strong bearish momentum that has persisted over the past two weeks.

With a 30-day price decline of over 31%, the asset is far from its all-time high of $54.98, which was recorded on November 4, 2021. This prolonged downtrend suggests persistent selling pressure and a lack of bullish sentiment in the market.

Given the current price action, bearish moving averages, and negative momentum indicators, the outlook for Polkadot appears unfavorable in the short to medium term. Therefore, the recommendation is to Hold, as further consolidation or potential support levels may need to be assessed before making any bullish moves.