Market Overview for Uniswap/Tether (UNIUSDT)

Summary
• Price declined sharply from $5.434 to $5.166, forming bearish engulfing patterns and breaking key support levels.
• Volume surged over 264,000 during the final plunge, confirming strong bearish momentum.
• RSI reached oversold territory near 28, suggesting potential for a short-term bounce, but bearish bias remains.
• Bollinger Bands contracted before the drop, followed by a sharp expansion, indicating increased volatility.
• Fibonacci levels at 5.210 and 5.274 may act as near-term resistance; key support is now at 5.166.

Uniswap/Tether (UNIUSDT) opened at $5.401 on 2026-01-15 at 12:00 ET, hit a high of $5.438, and closed at $5.207 on 2026-01-16 at 12:00 ET, with a low of $5.143. Total volume amounted to 644,696.36, while notional turnover reached $3,365,112.88.

Structure & Formations

The 24-hour chart shows a pronounced bearish trend, with multiple bearish engulfing patterns forming after key resistance levels were breached. A decisive breakdown below the $5.27–5.30 support range accelerated the decline. A bearish flag pattern is visible during the consolidation phase before the final leg down.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are both in a steep downward slope, reinforcing the bearish bias. Daily moving averages (50/100/200) remain above the current price, indicating a stronger bearish momentum at shorter timeframes.

MACD & RSI

The MACD line turned sharply lower during the drop, confirming bearish momentum. The RSI has reached oversold levels around 28, suggesting short-term potential for a bounce, though the overall trend remains bearish.

Bollinger Bands

Volatility contracted during the midday consolidation phase before expanding sharply during the final decline. Price now sits near the lower Bollinger Band, consistent with a strong bearish move.

Volume & Turnover

Volume spiked to over 264,000 on the final bearish leg, confirming the strength of the move. Notional turnover increased in line with volume, showing no divergence. This suggests the selling pressure is genuine, not a temporary washout.

Fibonacci Retracements

On the most recent 5-minute swing, the 61.8% Fibonacci level is near $5.210, which now appears to be a key short-term support. A break below $5.166 would trigger the 100% extension target. On the daily chart, the 38.2% retracement level is near $5.274 and may attract buyers.

The market appears poised for a potential short-term rebound from current oversold conditions, but a bearish bias persists. Traders should monitor the $5.210–5.274 range for signs of reversal. As always, volatility may accelerate rapidly, so position sizing and stop-loss placement remain critical.