Polkadot (DOT) is currently priced at $1.83, reflecting a 24-hour decline of 5.20%. The daily trading range has been narrow, between a high of $1.93 and a low of $1.79, indicating reduced volatility in the current market environment.

The volume of 128,598,099 DOT suggests active trading but is coupled with a relatively low volume-to-market cap ratio of 4.26%. The short-term moving averages reveal bearish momentum, with the 8-hour SMA at $1.82 showing a slight uptick of 0.61%, while the longer-term SMAs are all trending downwards, indicating potential resistance levels above the current price.

The 1-hour RSI is at 28, which signals that DOT is currently oversold in the very short term. Meanwhile, the 7-day RSI at 43 suggests that the asset is nearing oversold territory, but there is still room for further downside pressure before a potential reversal could occur.

From a fundamental perspective, Polkadot remains significantly below its all-time high of $54.98 reached in November 2021, reflecting a long-term downtrend. Over the past week, DOT has dropped approximately 16.57%, with a 14-day price change of -11.43%, indicating persistent selling pressure and lack of bullish sentiment.

Given the current technical indicators, the near-term outlook for DOT appears weak, with downward momentum prevailing across multiple timeframes. Based on the analysis of price action, volume, and RSI indicators, a cautious approach is warranted.

Rating: Sell. The bearish trend in both short and long-term indicators, combined with weak volume and oversold conditions, suggests further declines are likely before any meaningful recovery can be expected.