Polkadot (DOT) is currently trading at $2.26, reflecting a 24-hour decline of 1.22%. The daily range has been tight, with a high of $2.30 and a low of $2.24, indicating a lack of volatility in the short term.

Volume over the past 24 hours stands at approximately 88.6 million, which represents 2.39% of its market capitalization. The technical indicators reveal a bearish sentiment, as the hourly moving averages are mostly trending downward, particularly the 55 SMA at $2.31, which shows a decline of 2.18%.

The RSI metrics also suggest weakness, with the 1-hour RSI at 39, indicating oversold conditions. The 7-day RSI at 49 signals a neutral stance, but the price changes over 7, 14, and 30 days show substantial declines of 2.72%, 19.96%, and 20.41%, respectively.

Polkadot's all-time high was $54.98, achieved on November 4, 2021, which illustrates the significant distance the asset has fallen since its peak. The current price action and market dynamics suggest that while there may be temporary support at $2.24, sustained downward pressure remains evident.

Given the technical indicators, volume metrics, and negative price trends, the current market sentiment for Polkadot appears bearish. Therefore, the recommendation is to Sell, as the risks outweigh the potential for short-term gains in the current market environment.