Uniswap (UNI) is currently trading at $3.40, reflecting a 24-hour decline of 3.01%. The daily trading range has been relatively narrow, with a high of $3.60 and a low of $3.37, suggesting a consolidation phase in the market.

Volume stands at approximately $179.86 million, representing 8.35% of the market cap, indicating decent trading activity but lower volatility. The moving averages show a bearish trend, with the short-term 8 SMA at $3.43 down 0.87% and the longer-term 55 SMA at $3.53 down 3.70%, reflecting downward pressure on price.

The RSI metrics indicate a bearish sentiment; the 1-hour RSI is at 27, suggesting oversold conditions, while the 7-day RSI is at 52, signaling neutrality. Over the past 14 days, UNI has declined by 10.46%, and the 30-day change shows a significant drop of 31.87%, highlighting ongoing weakness in the asset.

In terms of price action, UNI remains far from its all-time high of $44.92, which underscores the substantial market correction since May 2021. The market sentiment appears cautious as the price struggles to reclaim recent highs, which is a critical resistance level.

Given the current technical indicators and market dynamics, a Hold rating is warranted for Uniswap (UNI). The asset may present a short-term buying opportunity if it stabilizes above key support levels, but the prevailing trend suggests maintaining a cautious approach until clearer bullish signals emerge.