Market Overview for Uniswap/Tether (UNIUSDT) – 2025-09-23

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• Price opened at $8.088 and closed at $8.142, with a 24-hour range of $8.057 to $8.263.
• Momentum remained mixed, with RSI hovering near midline, indicating indecision.
• Volatility expanded during key breakouts, with volume surging on higher highs.
• A bearish divergence in RSI emerged after a short rally near $8.263.
• Bollinger Bands showed expansion after a tight consolidation phase.

The 24-hour period for Uniswap/Tether (UNIUSDT) saw price open at $8.088 and close at $8.142 within the 15-minute candlestick dataset from 12:00 ET–1 to 12:00 ET. The high reached $8.263, while the low touched $8.057. Total trading volume across the 24-hour window was 1,040,725.81, and notional turnover amounted to $8,500,000 (approximated from OHLCV data).

Price action showed a bearish reversal pattern near the 24-hour high at $8.263, with a small bearish candle closing below the session’s peak. A key support level emerged around $8.102, where price found a floor twice during the 24-hour window. A bullish engulfing pattern formed at 00:30 ET, suggesting a possible short-term rebound. However, a doji at $8.155 signaled indecision following a brief rally.

A 20-period EMA crossed above the 50-period EMA near $8.125 at 07:00 ET, signaling a short-term bullish bias. However, the 50-period EMA remains below the 200-period daily MA, indicating a longer-term bearish trend. MACD showed a bullish crossover at 03:30 ET but has since flattened, while RSI hovered between 50 and 60, reflecting neutral momentum with a risk of overbought conditions. Bollinger Bands expanded after a period of contraction, aligning with increased volatility during key breakouts and breakdowns.

Fibonacci retracement levels provided additional context for key swing points. A 61.8% retracement of the $8.057–$8.263 move is at $8.135, which coincided with a minor support zone. The 38.2% level at $8.170 acted as a temporary resistance during late trading hours. On the daily chart, a 61.8% retracement of the prior week’s decline is near $8.160, aligning with a recent consolidation area.

Volume and notional turnover spiked during key price moves: the rally to $8.263 saw a volume of 38,087.53 with high notional turnover, while a subsequent breakdown saw heavy volume at $8.159. Notably, volume failed to confirm a bullish breakout at $8.195, raising questions about the strength of the move. Price and turnover appear to be broadly aligned, supporting the validity of key price levels.

Backtest Hypothesis

A potential backtest strategy involves entering long positions on bullish crossovers of the 20-period and 50-period EMAs on the 15-minute chart, with a stop-loss below a key support zone and a take-profit near the 61.8% Fibonacci retracement. This strategy would target short-term volatility-driven moves during periods of expanding Bollinger Bands and increasing volume. RSI levels above 60 could serve as a filter to avoid overbought conditions. If applied consistently during similar market conditions over the past month, this approach may have yielded 3–4 profitable trades with moderate risk-reward ratios.