Market Overview for Uniswap/Tether (UNIUSDT) – 24-Hour Summary

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• Price action saw a sharp 8.152–7.511 drop, followed by a partial rebound to 7.702 as of 12:00 ET.
• Momentum indicators showed overbought conditions early, then reversed into oversold territory by 23:45.
• Volatility expanded significantly with a 5.3% move from 7.801 to 7.663 in a 4.5-hour window.
• Volume surged during the 04:00–06:00 ET rebound, reaching a 250k+ volume bar.
• Key support at 7.65–7.70 held during two test attempts, indicating potential consolidation.

Uniswap/Tether (UNIUSDT) opened at $8.142 on 2025-09-24 at 12:00 ET, reaching a high of $8.152 and a low of $7.511 before closing at $7.678 at 12:00 ET the next day. Total traded volume was 1,975,442.66 and notional turnover was $15,318,518.44 over 24 hours.

The 24-hour chart showed a bearish breakdown, with price failing to hold above the 8.000 psychological level after an initial attempt. A significant bearish engulfing pattern formed on the 23:45 candle as price collapsed from 8.002 to 7.903 in 15 minutes. Key support levels emerged at 7.80, 7.70, and 7.65, with 7.65–7.70 acting as a consolidation area in the final hours. A potential bullish reversal may occur if price tests and holds above 7.70.

Structure & Formations

Price moved in a clear downtrend from 8.152 to 7.511 before a modest recovery. The most notable formation occurred at 23:45 ET with a large bearish engulfing candle. A doji appeared at 04:45 ET (7.719), indicating indecision. The 06:15 ET candle was a strong bearish bar that confirmed the breakdown below 7.70.

Moving Averages

On the 15-minute chart, price closed below both the 20 and 50 SMA, indicating short-term bearish momentum. The daily chart shows price beneath the 50, 100, and 200 SMA, confirming the bearish bias. A potential short-term bounce may occur if price closes above the 7.70–7.75 MA cluster.

MACD & RSI

The MACD turned negative and diverged from the price action as the bearish move continued, confirming weak momentum. RSI bottomed at 23–26 on the 04:45–06:00 candles, suggesting a temporary oversold condition. A potential rebound could be confirmed with an RSI close above 50 and a positive MACD crossover.

Bollinger Bands

Price remained below the lower Bollinger Band from 23:45 to 04:45, suggesting heightened volatility. A contraction occurred around 05:45 as price tested the 7.70–7.75 range, indicating a potential reversal. Price currently sits near the middle band, indicating moderate volatility with room for both upward and downward movement.

Volume & Turnover

Volume surged during the breakdown phase, peaking at 250k+ at 04:00 ET. The 06:15–07:00 period saw increased volume with a 168k+ bar, confirming bearish momentum. Notional turnover aligned with volume increases, showing no divergence between price and turnover.

Fibonacci Retracements

From the 8.152 high to the 7.511 low, the 38.2% retracement level at 7.898 failed to hold. Price found support at the 61.8% retracement level around 7.70, suggesting a potential base for a short-term bounce. The next key retracement level to watch is 7.80.

Backtest Hypothesis

Given the bearish structure and key support levels, a backtest strategy could involve a short entry on a close below 7.65 with a stop at 7.75 and a target at 7.50. A long entry may be considered on a close above 7.75, with a stop at 7.65 and a target at 7.85. The 7.65–7.75 zone remains a critical level to watch for directional bias.