Polkadot (DOT) is currently trading at $1.30, reflecting a significant 24-hour decline of 9.32%. Over the past week, the asset has seen a steep drop of approximately 23.64%, with a 14-day and 30-day decline of 32.73% and 41.97%, respectively, indicating sustained bearish pressure.

The daily price range has remained tight at 0.28%, with a high of $1.43 and a low of $1.15 in the last 24 hours. Trading volume stands at 394,116,968 DOT, accounting for 18.32% of the market cap, suggesting active market participation despite the downward trend.

Analyzing the moving averages, the short-term 8 SMA shows a slight gain of 4.01% at $1.25, while the 13 SMA is at $1.27 with a 2.41% increase, indicating possible short-term bullish sentiment. Conversely, longer-term averages such as the 21 SMA ($1.32), 55 SMA ($1.42), and 144 SMA ($1.49) reveal weakening momentum, with losses of 1.27%, 8.21%, and 12.79%, respectively.

The current RSI readings indicate a bearish stance, with the 1-hour RSI at 44 and the 7-day RSI at 41, suggesting that DOT is approaching oversold territory but has yet to confirm a reversal. The substantial gap between the current price and the all-time high of $54.98 from November 2021 underscores the ongoing challenges facing DOT.

Given the current technical indicators and recent price performance, DOT is showing signs of bearish momentum with no immediate reversal signals in sight. Therefore, the recommendation is to Hold at this time, as potential recovery may require more stability in market conditions and bullish signals from technical indicators.