Polkadot (DOT) is currently priced at $2.12, reflecting a significant 7.09% decrease over the past 24 hours. The daily trading range has been relatively tight, with a high of $2.31 and a low of $2.09, indicating short-term volatility is subdued.

The volume of 172,426,729 suggests active trading, but the 4.94% volume-to-market cap ratio indicates a lower level of market participation relative to its market capitalization. The hourly moving averages show a consistent downtrend, with the 8 SMA at $2.20 (-3.76%) and the 55 SMA at $2.30 (-7.65%), suggesting bearish momentum in the short term.

The RSI metrics reveal oversold conditions, particularly the 1-hour RSI at 19, indicating a strong selling pressure. In contrast, the 7-day RSI at 46 suggests a neutral to slightly bearish sentiment, while the 14-day and 30-day price changes of -10.66% and -19.90%, respectively, highlight a broader downtrend over the past weeks.

With the current price being significantly below its all-time high of $54.98 set in November 2021, DOT is facing substantial resistance levels in the short to medium term. The persistent downward movement and negative price changes across various time frames indicate a lack of bullish momentum and potential weakness in market sentiment.

Based on the current technical indicators and price action, a Sell rating is appropriate for Polkadot (DOT) at this time. The prevailing bearish trends and oversold conditions suggest further downside risk before a potential recovery can be considered.