Market Overview: Uniswap/Tether (UNIUSDT) 24-Hour Performance and Technical Insight

• Price dropped from $9.71 to $9.15 amid bearish continuation patterns and increased volatility
• Momentum weakened with RSI below 30 and bearish MACD divergence
• Volume spiked during key breakdowns, confirming bearish bias
• Bollinger Band contraction signaled high volatility, followed by sharp price decay
• Fibonacci levels at $9.50 and $9.35 acted as psychological supports and potential turning points

The Uniswap/Tether pair (UNIUSDT) opened at $9.52 on 2025-09-18 at 12:00 ET and closed at $9.18 by 2025-09-19 at 12:00 ET. The pair reached a high of $9.713 and a low of $9.141 during the 24-hour window. Total volume reached 2,648,588.17 with a turnover of $23,842,989.48. Price action was bearish, with a breakdown from key resistance levels.

Structure & Formations

Price moved in a bearish trend, marked by several bearish continuation patterns such as the dark cloud cover and a potential bearish engulfing pattern near the $9.70 level. A notable doji appeared at $9.649, indicating indecision and a potential reversal. Key support levels formed at $9.50 and $9.35, while resistance was seen at $9.65 and $9.70. These levels represent critical Fibonacci retracement levels from the $9.141 to $9.713 swing.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed below price, reinforcing the bearish trend. On the daily chart, the 50, 100, and 200-period moving averages all trended downward, suggesting long-term bearish bias. The price closing below the 200-day MA further confirms a bearish outlook.

MACD & RSI

The MACD histogram showed bearish divergence, with price making lower highs while the histogram declined further into negative territory. RSI dipped below 30, entering oversold territory, though without a clear sign of a reversal. The pair lacks immediate bullish momentum, and any rally remains vulnerable to bearish follow-through.

Bollinger Bands

Volatility expanded significantly following a period of consolidation, as the price broke out of a narrowing Bollinger Band and fell sharply. The current price is positioned near the lower band, suggesting continued bearish pressure. A reversal would require a strong move toward the upper band or a break of key support levels.

Volume & Turnover

Volume surged during the breakdown from $9.70 to $9.50 and again during the move from $9.50 to $9.35. These spikes in volume confirm bearish conviction. Notional turnover also increased during these moves, aligning with price action and reinforcing the bearish narrative. A divergence between price and volume has not been observed, suggesting continued bearish momentum.

Fibonacci Retracements

The most recent swing from $9.141 to $9.713 has produced critical retracement levels at $9.50 (38.2%), $9.35 (61.8%), and $9.70 (78.6%). Price has tested $9.35, indicating the 61.8% level as a potential support. A break below this level could target $9.141, the swing low. These levels are critical for near-term direction.

Backtest Hypothesis

A potential backtest strategy involves entering a short position on a close below the 61.8% Fibonacci level ($9.35) with a stop just above the 78.6% level ($9.70) and a target near the swing low ($9.141). MACD and RSI conditions would confirm the short bias, particularly if RSI remains below 30 and MACD stays negative. This approach would align with the current bearish structure and support/resistance dynamics identified in the 15-minute and daily charts.