Uniswap (UNI) is currently trading at $3.60, reflecting a notable 15.08% increase over the past 24 hours. This price movement comes after a daily range between $3.12 and $3.61, indicating a strong bullish sentiment compared to previous trading sessions.

The trading volume of 343,217,564 reflects a robust interest, with a volume-to-market cap ratio of 15.15%, suggesting that the current price movement is supported by significant trading activity. However, the 7-day RSI at 46 indicates that the asset is nearing neutral territory, and the 1-hour RSI at 82 suggests short-term overbought conditions that could lead to a price correction.

Technical indicators show that while short-term moving averages like the 8 SMA and 13 SMA are trending upward, the longer 144 SMA is indicating a bearish divergence with a decline of 3.73%. The recent price changes over 7, 14, and 30 days show significant declines of 15.61%, 26.31%, and 36.73%, respectively, highlighting ongoing downward pressure and potential long-term bearish sentiment.

Given the current price action and market conditions, a cautious approach is advisable. The strong short-term gains may be countered by the overall downward trend and overbought signals, suggesting that traders should be wary of potential pullbacks.

Rating: Hold. The recent surge does not indicate a sustainable upward trend given the longer-term price declines and overbought conditions, warranting a wait-and-see approach before making any new investments.