Market Overview for Uniswap/Tether (UNIUSDT)

• Price dropped from $10.13 to $9.72 over 24 hours with a bearish bias.
• RSI oversold conditions emerged late in the session, suggesting potential rebound.
• Volume spiked during the sharp decline, indicating heightened bearish sentiment.
• Bollinger Bands widened mid-session, signaling increased volatility.
• A potential bullish reversal pattern appeared around $9.47 during the overnight selloff.

Uniswap/Tether (UNIUSDT) opened at $10.106 on 2025-09-13 12:00 ET and closed at $9.723 on 2025-09-14 12:00 ET, with a high of $10.136 and a low of $9.004. Total volume reached 1,790,866.07, and total turnover amounted to $17,163,615.14. The price action displayed bearish continuation with key support levels tested overnight.

Structure & Formations

The 24-hour chart formed a bearish flag pattern as prices consolidated below key resistance at $10.06. A long lower shadow at $9.004 on the morning of 2025-09-14 signaled a potential short-term bottom. The pair tested prior support at $9.934 twice, failing to hold below, suggesting resilience in the short term. Notable patterns included a bearish engulfing candle on the early morning of 2025-09-14 and a potential bullish reversal pattern (inverted hammer) at $9.476 during the selloff.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period SMAs, indicating bearish momentum. The 50-period SMA at ~$10.07 crossed below the 100-period SMA (~$10.09), forming a bearish death cross. Daily chart indicators showed the 50-period SMA (~$10.10) above the 200-period SMA (~$10.06), suggesting a broader bearish trend.

MACD & RSI

MACD showed bearish divergence as price made a lower high while the MACD histogram continued to contract. RSI dropped into oversold territory below 30 for a period during the overnight session, hinting at a potential bounce. However, the lack of sustained buying pressure suggests further consolidation or a test of key support at $9.004 may be in order.

Bollinger Bands

Volatility expanded significantly overnight, with the Bollinger Band width peaking at 1.13% during the early morning sell-off. Price closed near the lower band at $9.723, indicating extreme bearish pressure. A rebound to the middle band (~$9.90) would suggest short-term equilibrium has been restored.

Volume & Turnover

Volume spiked during the sharp selloff starting at 04:00 ET, with a single candle at 04:00 ET recording $1,481,644.07 in notional turnover — over 80% of the 24-hour total. The volume-to-price divergence suggests a potential exhaustion of bearish momentum. However, the large bearish candle at $9.476 was accompanied by low volume, weakening the signal.

Fibonacci Retracements

On the 15-minute chart, the price tested the 61.8% retracement level at $9.98 during the consolidation phase. On the daily chart, the 61.8% retracement from the recent high of $10.13 to the low of $9.004 sits at $9.68 — close to where price found a floor on 2025-09-14. A break above $10.06 may trigger a 38.2% retracement test at $10.09.

Backtest Hypothesis

The described backtesting strategy involves entering long positions when price closes above the 50-period SMA and the RSI exits oversold territory, while shorting when price breaks below the 50-period SMA with confirmation from a bearish engulfing candle. Given the recent RSI oversold bounce and the 50-period SMA at $10.07, a short-term long bias could be justified. However, with the broader trend bearish and key support levels tested, a long bias should be tempered with tight stop-losses. This strategy would need to be applied cautiously with additional filters such as volume confirmation or Fibonacci targets to avoid false breakouts.