Uniswap (UNI) is currently trading at $3.19, reflecting a significant 24-hour decline of 16.26%. The daily price range has been relatively tight, between a high of $3.82 and a low of $3.15, indicating bearish sentiment dominating the market.

Trading volume stands at approximately 511 million, which equates to a volume-to-market cap ratio of 25.30%. This elevated volume suggests heightened selling pressure, which aligns with the bearish price action observed over the past week, where UNI has declined by 27.11%.

The hourly moving averages reveal that all short-term SMA indicators are trending below the current price, with the 8 SMA at $3.59 and the 55 SMA at $3.80, indicating a consistent downward trend. Additionally, the 1-hour RSI is extremely low at 17, suggesting the asset is oversold in the short term, while the 7-day RSI at 39 shows weakness but is not in the oversold territory.

The price has seen a steep decline over the last 30 days, dropping 46.27% from previous levels, indicating a potential loss of investor confidence. The historical all-time high of $44.92 from May 2021 seems distant, emphasizing the current bearish trend and the significant challenges UNI faces to regain previous levels.

Considering the technical indicators, market sentiment, and recent price movements, the outlook for Uniswap (UNI) remains bearish. Therefore, I recommend a Sell rating due to the current market dynamics, significant price declines, and lack of immediate bullish signals.