Market Overview for Uniswap/Tether (UNIUSDT)

Summary
• Price action formed a bullish engulfing pattern near 5.900-5.910, followed by consolidation.
• RSI overbought at 70+ after 02:00 ET, with no bearish divergence.
• Volatility expanded during the 00:00–03:00 ET window, with volume surging above average.
• Price closed above the 50-period MA on the 5-minute chart, suggesting upward bias.
• Bollinger Bands tightened at 03:45 ET, suggesting possible breakout potential.

Uniswap/Tether (UNIUSDT) opened at 5.870, reached a high of 6.023, a low of 5.841, and closed at 5.922 at 12:00 ET. Total volume was 2,404,513.5 and turnover was 14,146,361.14. The pair showed elevated volume and price strength during the early morning hours, with a defined bullish trend forming after 02:00 ET.

Structure & Formations

A key bullish engulfing pattern emerged between 02:15 ET and 02:30 ET as price rose from 5.952 to 5.964, breaking above a prior consolidation range. This was followed by a consolidation phase between 5.920 and 5.945, where a 61.8% Fibonacci retracement level acted as temporary support. A doji formed at 05:15 ET (close: 5.905), hinting at indecision before a rebound.

Moving Averages and Momentum

The price closed above the 50-period MA on the 5-minute chart at 5.917, suggesting short-term bullish momentum. MACD crossed above the signal line just before 03:00 ET, confirming the bullish bias. RSI peaked at 74 near 03:00 ET, entering overbought territory, though no bearish divergence appeared in the next 4 hours.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly between 00:00 and 03:00 ET, coinciding with increased volatility and higher volume. Price moved above the upper band multiple times, suggesting strong momentum. A contraction occurred briefly at 03:45 ET, indicating potential for a breakout in the following hours.

Volume and Turnover Analysis

Turnover spiked to $777,371.02 at 00:15 ET and again to $1,414,636.14 at 12:15 ET, confirming key price levels. Volume remained consistently above 30,000 units during the 00:00–03:00 ET window, signaling strong participation. Price and turnover aligned, supporting the bullish bias.

Fibonacci Retracements

Fibonacci levels aligned with key support and resistance levels during the 5-minute and daily swing highs and lows. A 61.8% retracement level at 5.916–5.920 appeared to hold, suggesting that this area could be a key reference for near-term direction.

Uniswap/Tether may continue to test the 5.945–5.956 range in the next 24 hours, where a breakout could lead to further gains. Traders should watch for any rejection at 5.890–5.900 as a potential warning of short-term pullback risk.