Uniswap (UNI) is currently priced at $3.26, reflecting a 24-hour decline of 4.45%. The daily trading range has been relatively narrow, with a high of $3.48 and a low of $3.16, indicating low volatility in the current market environment.

Volume for the past 24 hours stands at approximately $387.5 million, representing 18.74% of its market capitalization. The volume-to-market cap ratio indicates a moderate level of trading activity, suggesting that while there is interest, it has not translated into significant price movement recently.

Technical indicators reveal a bearish trend, particularly as the hourly moving averages show a downward trajectory across the 13, 21, and 55 SMA, with the 144 SMA indicating a continued decline. The 1-hour RSI at 37 suggests that UNI is nearing oversold territory, but the 7-day RSI of 47 indicates a lack of immediate bullish momentum.

From a longer-term perspective, UNI has seen significant declines over the past 14 and 30 days, with price changes of -24.31% and -43.18%, respectively. The substantial gap from its all-time high of $44.92 underscores the bearish sentiment and potential market saturation.

Given the current technical indicators and the broader market conditions, Uniswap appears to be in a corrective phase with limited upside momentum. Therefore, a cautious approach is warranted; I recommend a Hold rating for UNI, as there may be better opportunities in the market once the trend stabilizes or reverses.