The Polkadot market is currently experiencing a bearish trend, with sellers dominating and keeping prices low despite short-term support at $5.29. The bears and bulls have been engaged in a tug-of-war between the $5.29 and $5.45 levels, but the bears have been winning so far.

The RSI and MACD indicators both suggest a lack of clear bias in the market, but the moving averages indicate a bearish trend in the near future. The 4-hour chart shows a descending channel that is limiting any bullish attempts, and technical indicators point to a continued bearish sentiment.