Polkadot (DOT) is currently trading at $1.87, reflecting a 24-hour change of -1.49%. The price is positioned within a daily range of $1.86 to $1.93, indicating relatively low volatility, evidenced by a daily range of just 0.07%.

Trading volume over the last 24 hours stands at approximately 131.99 million DOT, which contributes to a volume/market cap ratio of 4.29%. This suggests a moderate level of trading activity relative to its market capitalization, although the recent decline in price indicates a lack of bullish momentum.

The hourly moving averages indicate bearish pressure, with the 8 SMA at $1.89 reflecting a -1.18% change. Longer-term averages also show declines, with the 144 SMA at $1.99 down -5.90%, indicating a persistent downward trend over various time frames.

The RSI metrics reveal oversold conditions, with the 1-hour RSI at 27, signaling potential short-term buying opportunities, yet the 7-day RSI at 43 suggests the asset is still within a bearish trend. Furthermore, the 7-day price change of -15.81%, 14-day price change of -19.02%, and 30-day price change of -33.67% all confirm a significant downtrend in the medium to long term.

Given the substantial distance from the all-time high of $54.98, achieved in November 2021, the current price levels reflect significant depreciation. Market sentiment appears weak, and unless there's a substantial catalyst to change the trajectory, the outlook remains bearish.

Based on the technical indicators and fundamental data, the recommendation for Polkadot (DOT) is to Sell. The continued price decline, coupled with oversold indicators and a lack of bullish momentum, indicates further downside risk in the short to medium term.