Uniswap (UNI) is currently trading at $3.91, reflecting a 24-hour decline of 1.35%. The daily price range has been relatively tight, between a high of $3.97 and a low of $3.73, indicating subdued volatility in the short term.

The volume of 366,998,815 UNI represents a volume-to-market cap ratio of 14.81%, suggesting a moderate level of trading activity. The hourly moving averages show a mixed trend, with the shorter-term averages (8 SMA and 13 SMA) indicating upward momentum, while the longer-term averages (55 SMA and 144 SMA) suggest a bearish trend over a broader time frame.

The one-hour Relative Strength Index (RSI) is at 60, indicating a near-term bullish momentum, but the seven-day RSI is at 41, reflecting potential oversold conditions. Furthermore, the asset has experienced significant declines over the past 7, 14, and 30 days, with price drops of 15.98%, 21.44%, and 32.85%, respectively, showing ongoing bearish sentiment.

Considering the current price of $3.91 is substantially lower than its all-time high of $44.92, the asset is trading at a significant discount. However, the persistent downtrend in the medium term combined with the bearish signals from longer-term moving averages suggests caution.

In conclusion, while there are signs of short-term bullish momentum, the overall trend remains bearish, and the price is still under pressure from recent declines. Therefore, a cautious approach is recommended: Hold your position until a clearer bullish reversal is established, particularly if the price can regain the 55 SMA at $3.99.