Market Overview for Uniswap/Tether (UNIUSDT)

• Price surged 27.5% in 24 hours, breaking key resistance levels with high volume.
• A strong bullish momentum was observed, with RSI reaching overbought territory.
• Bollinger Bands showed a sharp expansion after a period of consolidation.
• Volume and turnover spiked in the final 6 hours, confirming the upward breakout.
• A potential reversal pattern (shooting star) emerged at the peak; caution advised.

At 12:00 ET on October 9, 2025, Uniswap/Tether (UNIUSDT) opened at $7.72, hit a high of $8.60, and closed at $7.754 by 12:00 ET October 10. The 24-hour period recorded a total volume of 4,299,702.88 and a notional turnover of $34,144,600.00, reflecting strong market participation and volatility.

The price action over the 24-hour window was highly dynamic, showing a clear bullish breakout from a consolidation pattern. The formation began at $7.70 and expanded into a sharp upward move that pierced through $8.50, followed by a pullback. Key resistance levels at $8.00 and $8.50 were decisively breached, while support held at $7.75 and $7.65 during the pullback phase. A bearish shooting star pattern emerged at the peak of $8.60, signaling a potential exhaustion in bullish momentum and increased bearish pressure.

MACD and RSI confirmed the momentum shift. RSI reached overbought levels (80+) during the peak rally, and the MACD histogram showed expanding positive bars, indicating strong upward momentum. Bollinger Bands reflected a sharp volatility expansion following a period of compression, with prices moving well above the upper band. This suggests the move was highly volatile and could be followed by a correction. A 20-period and 50-period moving average on the 15-minute chart showed the price remaining above both, reinforcing the bullish bias in the short term.

The Fibonacci retracement levels from the recent swing high of $8.60 to the pullback low of $7.75 identified key levels to watch: 61.8% at $8.15 and 38.2% at $8.31. The price briefly touched the 38.2% level before reversing, indicating a potential zone of interest for near-term action.

Volume and notional turnover spiked significantly in the final 6 hours, particularly between 03:00 and 09:00 ET. While this confirmed the bullish breakout, it also raised the risk of a short-term reversal. Divergences between price and volume were not evident during the pullback, suggesting that the move is still supported by strong liquidity and buying pressure. Notably, the large candle at 03:45 ET (high: $8.60, close: $8.554) saw 1.885 million in volume, the largest in the 24-hour period, underscoring the intensity of the rally.

Backtest Hypothesis: The strategy involves entering a long position when price breaks above the 61.8% Fibonacci level and RSI moves above 50, with a stop loss at the 38.2% level and a target at the 78.6% retracement. Given the recent move above 61.8% at $8.15 and RSI currently at neutral territory (~55), this setup is currently aligned with the backtest conditions. However, the emergence of a shooting star and the overbought RSI suggest that the next 24 hours could see a pullback to test key support levels. Investors may wish to await a retest of $8.15 for confirmation before initiating new long positions.