Market Overview for Uniswap/Tether (UNIUSDT)

Summary
• UNIUSDT formed a bullish engulfing pattern at 5.72–5.753 and broke a key 5.80–5.84 resistance cluster.
• Strong volume expansion followed a consolidation phase, confirming a potential breakout with 5.83–5.86 as next targets.
• RSI reached 62 near the 5.85–5.89 high, suggesting momentum is slowing but not overbought.
• Bollinger Bands widened sharply during the late-night rally, indicating a phase of increased volatility.
• Downturn after 02:30 ET saw lower turnover and volume, suggesting bearish pressure may be lacking.

At 12:00 ET−1, Uniswap/Tether (UNIUSDT) opened at 5.725, reached a high of 5.930, and closed at 5.930 at 12:00 ET after hitting a low of 5.672. The pair traded on a total volume of 1,768,893.92 and a notional turnover of 9,841,236.58.

Structure and Formations

Price broke out of a 5.78–5.84 consolidation zone on rising volume, forming a bullish engulfing pattern at 5.72–5.753. A key 5.76–5.78 support held during a mid-night pullback, and the 5.83–5.86 level is now a new focus for potential continuation.

Moving Averages

On the 5-minute chart, the 20-period MA moved upward to 5.80, supporting the breakout direction. The 50-period MA remained slightly below 5.78, reinforcing that the move above 5.83 is structurally significant.

Momentum and Volatility

The RSI peaked at 62 during the 5.83–5.89 rally, suggesting strong but not overextended momentum. Bollinger Bands showed a sharp expansion during the breakout and have since stabilized, indicating the market may be settling into a new volatility range.

Volume and Turnover

Volume spiked during the breakout and again in the late-night rally, while turnover showed strong confirmation. However, a pullback after 02:30 ET saw declining volume and turnover, hinting at a potential pause in aggressive bullish momentum.

Fibonacci Retracements

The 5.80–5.84 consolidation level aligned with the 61.8% retracement of the earlier 5.72–5.79 rally. Price now appears to be in the 78.6–88.6% extension range, suggesting 5.90–5.96 as the next Fibonacci target zone.

The market appears to be transitioning into a bullish phase with clear signs of breakout confirmation. However, the high volatility and uneven volume during pullbacks suggest traders should remain cautious about potential short-term corrections. A retest of the 5.80–5.84 zone or a rejection near 5.90–5.93 could trigger a reversal, especially if volume fails to support further upside.