Uniswap (UNI) is currently trading at $3.49, reflecting a 24-hour decline of 5.41%. The daily price range has been tight, fluctuating between $3.48 and $3.71, indicating a lack of volatility as traders remain cautious amid current price pressures.

Volume over the past 24 hours stands at approximately 269 million UNI, contributing to a volume-to-market cap ratio of 12.15%. This volume suggests moderate trading activity, but the downward price movement indicates that sellers are currently dominating the market.

The short-term moving averages indicate a bearish trend, with the 8 SMA and 13 SMA showing declines of 3.27% and 3.44%, respectively. Conversely, the 55 SMA is slightly bullish at +0.03%, while the 144 SMA shows a stronger bullish signal at +1.89%, indicating potential support around $3.43.

The 1-hour RSI is significantly low at 21, suggesting that UNI is in oversold territory, which could lead to a potential bounce. However, the 7-day RSI at 50 shows a neutral position, indicating a lack of momentum in either direction over the past week.

Over the past 7 days, UNI has gained approximately 1.20%, but this is offset by a larger decline of nearly 8.90% over the last 14 days and a substantial drop of 33.01% over the past 30 days. Such negative momentum raises concerns about investor confidence, especially given the historical all-time high of $44.92 from May 2021.

Given the current market dynamics, the technical indicators suggest a lack of immediate upward momentum, but the low RSI may present a short-term buying opportunity. However, the overall trend remains bearish, and the resistance levels indicated by the moving averages suggest that further downside could occur.

Rating: Hold. While the oversold conditions suggest a potential rebound, the prevailing bearish trend and substantial recent losses warrant caution before committing to a buy.