Market Overview for Uniswap/Tether (UNIUSDT) – 2025-11-10

Summary
• Price surged from $6.595 to $7.137 on strong bullish momentum late in the 24-hour period.
• RSI hit overbought levels (>70), suggesting potential short-term exhaustion.
• Volatility spiked during the final hours, with volume peaking at $420,107.75 in the 11:15 AM ET candle.

The 24-hour period for Uniswap/Tether (UNIUSDT) opened at $6.595 at 12:00 ET–1 and closed at $7.137 at 12:00 ET, reaching a high of $7.137 and a low of $6.591. Total volume for the 24-hour period was approximately 4.82 million contracts, with a notional turnover of $32.96 million, indicating heightened market interest.

Structure & Formations

The price action unfolded with a distinct bullish impulse from early morning, pushing through prior resistance levels and forming a bullish continuation pattern. A strong engulfing pattern appeared around the 9:45 AM ET candle (6.827–6.851), confirming the shift in momentum. Key resistance levels were at $6.90, $7.00, and $7.10, with the 15-minute chart forming a rising wedge that broke higher with confirmation at 11:45 AM ET. Support levels at $6.70 and $6.60 held early on but were later overrun by the bullish bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were clearly bullish, with price above both and trending higher. The 20SMA crossed above the 50SMA earlier in the session, forming a golden cross and reinforcing the short-term bullish trend. On a daily basis, price remained above the 50-, 100-, and 200-period moving averages, indicating a strong uptrend and continued accumulation.

MACD & RSI

MACD showed a strong positive divergence with the histogram expanding as price pushed higher, confirming the bullish momentum. RSI surged into overbought territory, closing above 70 in the final hours, indicating a potential short-term reversal could be near. However, the strength of the trend and volume suggests continued buying pressure may delay any near-term correction.

Bollinger Bands

Volatility expanded significantly as the session progressed, with the Bollinger Bands widening from a narrow consolidation phase to a full breakout. Price remained above the upper band for several consecutive candles, a strong signal of momentum and aggressive buying. The upper band acted as dynamic support during a minor pullback, which failed to breach the lower band, reinforcing the bullish narrative.

Volume & Turnover

Volume surged in the final hours, particularly around the 11:15 AM ET candle with $420,107.75 in turnover, confirming the breakout’s strength. The volume and price action were aligned, with no signs of divergence. Turnover increased in tandem with price gains, supporting the view that the bullish move was backed by substantial buying interest.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $6.591 to $7.137, key retracement levels at 38.2% (~$6.95) and 61.8% (~$6.86) acted as support. Price bounced off the 61.8% level during a minor correction in the early afternoon, validating its importance. These levels may provide temporary resistance if the trend reverses.

Backtest Hypothesis

A short-side RSI-overbought strategy was backtested using the daily close prices and 14-day RSI of UNIUSDT from 2022-01-01 to 2025-11-10. The strategy entered short positions when RSI closed above 70 and exited with either a 5% stop-loss or 5% take-profit. The results of this strategy can be explored through the interactive report, which includes returns, win-rate, drawdown, equity curve, and more. Given the recent overbought RSI readings, such a strategy may now be in play, but the strong bullish momentum suggests that shorting may carry higher risk unless combined with a clear reversal signal.