Polkadot's recent performance paints a bleak picture for investors, as the cryptocurrency has experienced a significant downturn. Over the past month, Polkadot has plummeted by 30.88%, with a year-on-year decrease of 39.33%. Currently trading at $4.70, Polkadot has underperformed against major cryptocurrencies like Bitcoin and Ethereum.

The market sentiment remains bearish, with 83% of indicators suggesting a negative outlook. Despite a predicted short-term price increase of 9.11%, the long-term trend remains concerning. The Fear & Greed index is neutral, reflecting investor uncertainty. Key support levels are at $4.83, $4.75, and $4.64, while resistance levels stand at $5.02, $5.13, and $5.21.