Market Overview for Uniswap/Tether (UNIUSDT) - September 22, 2025

• Price action shows a sharp selloff from $9.17 to $8.057, with heavy bearish momentum in the early hours.
• RSI entered oversold territory below 30, signaling potential for a near-term rebound.
• Volatility expanded significantly with Bollinger Bands widening after a period of contraction.
• Volume surged during the selloff, confirming bearish sentiment, but declined during price stabilization.
• A bullish engulfing pattern formed near $8.06–$8.14, suggesting a short-term reversal could be in play.

Market Snapshot

Uniswap/Tether (UNIUSDT) opened at $9.092 on September 21 at 12:00 ET and closed at $8.142 as of 12:00 ET on September 22. The 24-hour high was $9.171, while the low hit $8.054. Total trading volume reached 18,614,490.99, and notional turnover amounted to $160,012,976.79 over the same period. The pair has displayed a clear bearish bias with sharp declines in early trading, followed by a stabilization phase in the late hours.

Structure & Formations

The price action over the last 24 hours reveals a strong bearish bias, with a key swing high at $9.171 acting as a short-term overhead resistance. A breakdown from this level triggered a sharp decline, and the price now appears to be consolidating around $8.06–$8.14. A bullish engulfing pattern formed during this consolidation phase, which may suggest a short-term reversal is in play. Notable support levels include $8.058 (prior low) and $8.62 (previous support), while resistance is now clustered near $8.17–$8.20.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both remain bearish, with the price trading below both. The 50-period MA is sloping downward, indicating a bearish bias in the short term. On the daily chart, the 50, 100, and 200-period MAs show a similar bearish alignment, with the 50-period MA crossing below the 100-period MA, forming a “death cross” formation that may reinforce the downward trend.

MACD & RSI

The MACD line turned negative during the selloff and has remained bearish, with a histogram that expanded during the decline, confirming bearish momentum. The RSI has been in oversold territory for much of the day, dipping below 30, which suggests that the selloff could be nearing a short-term bottom. However, RSI remains weak, indicating further downside risk in the near term.

Bollinger Bands

Bollinger Bands have expanded significantly during the selloff, indicating increased volatility. The price has been trading near the lower band for most of the day, particularly during the decline to $8.054. This proximity suggests that the market is testing the lower bounds of its volatility range, and a bounce from the lower band could be imminent, especially if the bullish engulfing pattern holds.

Volume & Turnover

Volume spiked during the selloff, especially during the initial drop from $9.17 to $8.057, with a notable 15-minute candle showing $1,842,439.82 in volume and a turnover of $15,373,520.41. However, volume has since decreased, indicating waning bearish pressure. The divergence between price and volume during the rebound suggests that buyers are beginning to enter the market but may lack conviction. This could set the stage for a choppy or sideways consolidation phase ahead.

Fibonacci Retracements

Applying Fibonacci retracements to the recent decline from $9.171 to $8.054, key levels at 38.2% ($8.67) and 61.8% ($8.27) are critical for near-term direction. The price has rebounded from below the 38.2% level, and the 61.8% level now acts as a potential resistance if buyers regain control. On the 15-minute chart, Fibonacci levels from a smaller swing high ($8.171) to a low ($8.054) show $8.06–$8.14 as a potential support cluster.

Backtest Hypothesis

The backtest strategy described focuses on identifying a bullish engulfing pattern forming near key Fibonacci support levels, especially after a sharp decline confirmed by bearish MACD and RSI readings. The hypothesis would involve entering a long position upon the close of the bullish engulfing candle, with a stop-loss placed below the consolidation range or the next Fibonacci support level. A take-profit target could be set at the 38.2% or 61.8% Fibonacci retracement levels, depending on volatility. This approach leverages the technical signals observed today—namely, the breakdown confirmation, the bearish momentum exhaustion, and the potential reversal pattern—to time a short-term trade.