Polkadot (DOT) is currently trading at $1.89, reflecting a 24-hour decline of 1.46%. The price has shown limited volatility with a daily range of just 0.08%, indicating a lack of momentum in either direction.

The trading volume stands at approximately 139.59 million DOT, equating to a volume-to-market cap ratio of 4.45%, which suggests moderate trading activity relative to its market capitalization. The short-term moving averages are all below the current price, with the 8 SMA at $1.94, indicating a bearish trend, while the longer-term averages, especially the 144 SMA at $2.08, suggest that the asset is trading significantly below its historical performance.

The RSI indicators are currently at 43 for the hourly and 42 for the 7-day period, both of which indicate that DOT is nearing oversold territory but not quite there yet. The 7-day and 14-day price changes show a significant decline of -16.53% and -11.78%, respectively, highlighting a downward trend over the last two weeks.

Despite a slight uptick in the 30-day price change at 3.00%, the overall trend remains bearish in the short to medium term. The all-time high of $54.98 reached in November 2021 emphasizes the considerable distance from its peak value, signaling persistent downward pressure in the market.

Given the current price action, bearish moving averages, and the RSI indicating potential overselling but not confirming a reversal, the outlook remains cautious. Therefore, the recommendation for Polkadot (DOT) is to Hold, as a potential short-term recovery may be possible, but significant resistance remains ahead before any bullish sentiment can be confirmed.