Market Overview for Uniswap/Tether (UNIUSDT) – 2025-11-08

Summary
• Price surged from 5.685 to 6.133 on 11/8, forming strong bullish momentum.
• MACD and RSI indicate overbought conditions but strong upward bias.
• Bollinger Bands show a clear price expansion and high volatility.

The 24-hour session for Uniswap/Tether (UNIUSDT) opened at 5.685 on 2025-11-07 at 12:00 ET, surged to a high of 6.135, and closed at 6.004 as of 12:00 ET on 2025-11-08. Total volume reached 10,648,974.59, with a notional turnover of approximately $64,071,666. The pair displayed strong bullish momentum with clear resistance levels forming near 6.135 and 6.070. Key support emerged around 5.945.

Structure & Formations

The price of UNIUSDT formed a bullish continuation pattern during the late evening and early morning hours, with a strong bullish engulfing pattern emerging between 03:30 and 03:45 ET. This was followed by a consolidation phase and a sharp rebound after 07:00 ET. A potential resistance cluster formed near 6.135 and 6.070, while a key support level emerged at 5.945. A 15-minute doji near 6.004 at the end of the session suggests indecision and may precede a pullback or a breakout.

Moving Averages

On the 15-minute chart, the price closed above the 20-period and 50-period moving averages, indicating a strong bullish bias. The daily chart suggests the price remains above the 50-period and approaching the 200-period moving average. This positions UNIUSDT in a favorable short- to medium-term trend, with a potential retest of the 200-day moving average expected in the next 24 hours.

MACD & RSI

The MACD line crossed above the signal line around 05:00 ET, signaling a bullish crossover and confirming the upward momentum. The RSI peaked near 70, indicating overbought conditions, though the divergence between price and RSI suggests caution. A pullback may occur to test the 6.00–6.05 range, but the overall momentum remains supportive of higher prices in the near term.

Bollinger Bands

Price action remained within the upper Bollinger Band for most of the session, indicating high volatility and strong bullish momentum. A brief contraction occurred between 08:00 and 09:00 ET before the bands expanded again. The price remains near the upper band, which is a strong indicator of overbought conditions and possible consolidation or pullback.

Volume & Turnover

Volume spiked significantly during the late night to early morning hours, especially around 03:30 to 04:45 ET, confirming the breakout above key resistance. Turnover spiked to over $6.1 million during the 03:30 and 03:45 ET intervals. Divergence between price and volume was observed near the end of the session, which may indicate a temporary pause or consolidation phase.

Fibonacci Retracements

The most recent 15-minute swing from 5.87 to 6.135 shows a 61.8% retracement level at 6.008, which aligns closely with the closing price. On the daily chart, the major swing from 5.685 to 6.135 shows a 38.2% retracement at 5.942 and a 61.8% retracement at 6.008. These levels may act as key support and resistance in the next 24 hours.

Backtest Hypothesis

To assess the viability of the observed bullish momentum and key indicators in UNIUSDT, a backtest using a “golden-cross” strategy could be applied to similar crypto assets. The strategy would involve identifying MACD crossovers and entering a position when the 12-period line crosses above the 26-period line. A fixed 7-day holding period would then be applied to assess performance. This approach could be extended to a broader basket of crypto pairs, using the same MACD and 7-day rule. Performance could be evaluated from 2022-01-03 through today (2025-11-08) to identify robustness and consistency in the strategy. UNIUSDT’s current MACD behavior aligns with this strategy, making it a relevant candidate for testing.