Uniswap (UNI) is currently trading at $4.10, reflecting a significant 22.55% increase over the past 24 hours, indicating strong bullish momentum. The daily price range of $3.32 to $4.11 shows volatility but also suggests robust buying interest at lower levels, contributing to the recent surge.

The trading volume of approximately $463.74 million, equating to a volume-to-market cap ratio of 17.86%, highlights a healthy market engagement, supporting the price movement. Notably, the hourly moving averages reveal a consistent uptrend, with the 8 SMA at $3.79 showing an 8.14% increase, signaling short-term bullish sentiment.

The 1-hour RSI is extremely high at 96, indicating potential overbought conditions, while the 7-day RSI at 62 suggests that momentum remains bullish but is approaching overbought territory. In the last week, UNI has appreciated by 19.15%, with a solid performance over the past 14 days as well, which indicates a sustained recovery from the previous month’s decline of 13.17%.

Despite the current upward momentum, the significant distance from its all-time high of $44.92 suggests room for growth if the market conditions remain favorable. However, the high RSI levels raise caution, as a correction could be imminent if profit-taking occurs.

Given the strong bullish indicators alongside potential overbought signals, the recommendation is to Hold UNI for the time being. This allows traders to capitalize on any further price appreciation while monitoring for signs of a trend reversal or consolidation.