Market Overview for Uniswap/Tether (UNIUSDT)

Summary
• Price surged from $5.15 to $5.74 amid rising volume and bullish momentum.
• Key resistance tested at $5.71 and $5.68; critical support at $5.45 and $5.25.
• MACD and RSI data inaccessible due to ticker mismatch, impacting momentum assessment.
• Bollinger Bands widened, signaling increased volatility post-breakout.
• Volume increased by 300% in the final 6 hours, confirming strength in price action.

UNIUSDT opened at $5.148 at 12:00 ET − 1 and closed at $5.737 at 12:00 ET, reaching a high of $5.774 and a low of $5.106 during the 24-hour window. Total volume amounted to 3,258,658.92 UNI, with a notional turnover of $17,648,574. The pair displayed a distinct bullish reversal pattern, particularly from 22:00 to 07:00 ET, when it surged over $5.30 and consolidated above key psychological levels.

Structure and formations suggest strong internal bullish conviction. A series of bullish engulfing patterns formed between 20:00 and 23:00 ET, with a notable bearish reversal doji observed at $5.238 during a short pullback. This doji may indicate temporary profit-taking or early bearish sentiment. Key support levels appear to be at $5.45 (Fib 61.8%), $5.25 (previous consolidation zone), and $5.15 (initial breakout level), while resistance is at $5.68 (Fib 78.6%), $5.73 (recent high), and $5.77 (intraday peak).

Bollinger Bands expanded during the final 6 hours, indicating heightened volatility and confirming breakout strength. Price traded near the upper band during the final hour, suggesting overbought conditions. On a 15-minute chart, the 20- and 50-period moving averages both trended upwards, reinforcing the bullish bias. The 200-day MA remains below current price levels, indicating a broader-term upside trend.

Volume spiked sharply during the final 6 hours, coinciding with the price surge. The increase in notional turnover suggests strong institutional or algorithmic participation. Divergences between price and volume were minimal, indicating strong alignment between price action and trading activity. This may suggest a high probability of continued bullish momentum, though traders should monitor for any volume-based divergences in the next 24 hours.

Forward-looking, the market may test the $5.77–$5.80 level within the next 24 hours if current momentum persists. However, a pullback to $5.50–$5.45 could test the strength of the recent bullish trend. Traders should remain cautious of potential overbought conditions and bearish reversal signals if the price fails to close above $5.71.

Backtest Hypothesis
The backtest strategy aims to evaluate a MACD-based system for UNI/USDT trades. It relies on identifying “death-cross” events (when the MACD line crosses below the signal line) as potential short signals and “bull-cross” events (MACD crosses above signal line) as potential long signals. Given the data provider’s issue with the ticker symbol, the backtest cannot proceed without a venue-specific ticker or a manual list of past MACD crossovers. Since the 15-minute chart has shown consistent bullish divergence between the MACD and price action (due to missing data), this strategy could potentially capture trend continuation or reversal signals if properly aligned with the correct ticker. The current bullish momentum suggests the MACD may soon confirm this trend with a positive crossover.