Polkadot (DOT) is currently priced at $1.44, reflecting a 24-hour decline of 5.05%. The daily range has been narrow, with a high of $1.52 and a low of $1.42, indicating a market that is consolidating within a tight band.

The trading volume stands at 188,018,370, which equates to 7.86% of the market cap, suggesting moderate activity relative to its overall market capitalization. The short-term moving averages show bearish signals, with the 8 SMA at $1.45 down 0.85% and the 13 SMA at $1.45 down 0.99%, indicating a lack of upward momentum.

The Relative Strength Index (RSI) readings provide further insight into market sentiment; the 1-hour RSI is at 46, which is approaching neutral, while the 7-day RSI is at 42, suggesting that DOT is in a slight downtrend. Price changes over various time frames are concerning, with a 7-day drop of 20.54%, a 14-day drop of 25.95%, and a staggering 30-day decline of 34.98%.

Given the significant downward pressure indicated by the moving averages and the RSI readings, coupled with the recent price action, it appears that the market sentiment is predominantly bearish. The all-time high of $54.98 from November 2021 underscores the stark contrast to current levels, emphasizing the potential for further downside if current trends persist.

In conclusion, the analysis indicates a bearish outlook for Polkadot (DOT) in the near term, with technical indicators showing sustained selling pressure. Therefore, the recommendation is to Sell at this point, as the current price action and technical indicators do not suggest a favorable risk-reward scenario for new positions.