Market Overview: Uniswap/Tether (UNIUSDT) - October 8, 2025

• Price dropped to $7.72 before recovering to close near $7.82, showing intraday volatility.
• Key support tested around $7.72 with a bullish reversal forming in late hours.
• Volume surged after 14:00 ET as price rallied over 1.3%, confirming strength.
• RSI bottomed near 30, indicating oversold conditions, while MACD turned positive.
• Bollinger Bands expanded, signaling rising volatility; price remains above 20-period MA.

The Uniswap/Tether (UNIUSDT) pair opened at $7.829 on October 7 at 12:00 ET and closed at $7.797 at the same time on October 8. The 24-hour high was $7.98, and the low reached $7.696. Total volume for the period was 3,326,013.33, with notional turnover amounting to $25,963,604.89. Price action revealed a volatile session, with a sharp rebound from a 24-hour low near $7.72 in the late hours, suggesting short-term buyers entering the market.

Structure & Formations

Price tested a key support zone between $7.72 and $7.74, forming a bullish reversal pattern in the final hours of the 24-hour window. A notable bullish engulfing pattern emerged after the price broke above the 7.76–7.77 range, reinforcing a potential short-term rebound. A doji formed near the 7.72 support level, signaling indecision before a sharp rebound. Resistance appears to be forming near $7.85, where price stalled twice during the session, suggesting a critical area for further testing.

Moving Averages

On the 15-minute chart, the price closed above the 20-period moving average at $7.79, suggesting a possible near-term continuation of the rebound. The 50-period MA at $7.775 provided temporary support during the early rebound. On a broader scale, the 50-period daily MA sits at $7.80, aligning with recent intraday resistance. The 200-period MA at $7.85 remains a key long-term resistance level that could cap further short-term gains.

MACD & RSI

The RSI bottomed near 30 around $7.72, signaling oversold conditions and indicating potential for a bounce. The MACD crossed above the signal line in the late hours, turning positive, which aligns with the bullish price action. Momentum appears to be building, with the histogram expanding on the MACD chart as the price rebounded. However, RSI has not yet entered overbought territory, leaving room for further upside before caution is warranted.

Bollinger Bands

Bollinger Bands have widened significantly, reflecting the increased volatility of the past 24 hours. Price traded within the bands for most of the session, breaking below the lower band near $7.70 before rebounding. The recent rebound has brought price back into the upper half of the bands, suggesting a potential shift in sentiment. With the 20-period moving average sitting within the bands, the current environment appears conducive to continuation of the recent rally, assuming no further breakdown occurs.

Volume & Turnover

Volume surged after 14:00 ET as the price rallied above $7.82, with a large bar forming around $7.98. This increase in volume confirmed the strength behind the move, as higher prices were supported by increased participation. However, volume began to taper off after the 16:00 ET time frame, which may signal short-term exhaustion. Notional turnover followed a similar pattern, with the largest turnover occurring around the 14:15–14:30 ET period. Price and turnover remained aligned, indicating no divergence and reinforcing the validity of the recent move.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour move from $7.696 to $7.98, key retracement levels of 38.2% at $7.82 and 61.8% at $7.87 are currently in focus. Price has retested the 38.2% level multiple times and appears to be consolidating around it. A move above $7.87 could suggest a deeper retracement is underway, potentially targeting the $7.90–$7.93 range before encountering the 100% extension level. Conversely, a breakdown below $7.80 could signal renewed bearish momentum and a return to the 50% retracement level at $7.835.

Backtest Hypothesis

A potential backtesting strategy could involve a breakout from the 20-period moving average and a bullish engulfing pattern on the 15-minute chart, as seen late in the 24-hour period. This pattern could be used as an entry trigger, with a stop-loss placed below the 7.72 support level and a profit target at the 38.2% Fibonacci level at $7.82. Given the confirmation from the RSI and MACD, this could serve as a short-term reversal strategy with a favorable risk/reward ratio. The volume spike at the time of the engulfing pattern also supports the validity of the entry point.