Polkadot (DOT) is currently trading at $2.10, reflecting a 24-hour price decline of 6.68%. The daily price range has remained tight, with a high of $2.25 and a low of $2.09, indicating limited volatility amid recent selling pressure.

The trading volume stands at approximately 163 million, representing 4.74% of its market capitalization. The short-term moving averages are indicating bearish momentum, with the 8 SMA and 13 SMA both around $2.12 and showing declines of 0.89% and 0.90%, respectively, while longer-term averages are reflecting deeper losses.

The 1-hour RSI is significantly low at 24, suggesting that DOT is currently oversold and may be due for a corrective bounce in the short term. However, the 7-day RSI at 45 indicates a lack of immediate bullish momentum, with the 7-day and 14-day price changes both showing losses of approximately 7.79% and 9.02%.

Over the past 30 days, DOT has experienced a significant decline of nearly 19.59%, highlighting a sustained bearish trend. The all-time high of $54.98 achieved in November 2021 remains far from the current price, indicating substantial retracement and potential investor caution.

Given the current oversold conditions reflected in the short-term RSI and the high trading volume, there may be potential for a short-term rebound. However, the overall trend remains bearish with declining moving averages and persistent negative price action.

Rating: Hold. The short-term oversold condition could lead to a bounce, but the longer-term trend and price action suggest further caution is warranted before any aggressive buying.