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Summary
• Price declined from 6.184 to 6.117 with bearish engulfing and bear trap patterns.
• RSI hit 30 suggesting oversold territory while volume surged at the low.
• Bollinger Bands widened, showing increased volatility amid a breakdown below the 20-period MA.
Uniswap/Tether (UNIUSDT) opened at 6.184 and traded as high as 6.185 before declining to a low of 6.061, closing at 6.117 by 12:00 ET. Total volume reached 899,744.1, while notional turnover hit 5,507.15 over the 24-hour period.
Price moved lower with a bearish engulfing pattern emerging near 6.147 as the asset fell below the 20-period MA. A bear trap appeared after a false rebound above 6.134 failed to hold, reinforcing a bearish bias.

The 20-period MA provided initial resistance at 6.13–6.14, and the 50-period MA failed to hold as support. MACD turned negative decisively after 18:15 ET, confirming a shift in momentum. The daily 50/100/200 MA crossover suggests the pair remains in a medium-term downtrend.
RSI fell to 30 by 22:15 ET, signaling oversold conditions, but no strong rebound followed. Bollinger Bands showed a marked expansion following the breakdown at 6.12, with price staying near the lower band, indicating heightened volatility and bearish exhaustion.
Volume spiked at the 6.08–6.09 level as buying pressure emerged, but failed to push price above 6.12. The 61.8% Fibonacci retracement of the 6.184–6.061 swing lies at ~6.125, which may serve as near-term resistance. Divergence between volume and price suggests caution ahead.
In the next 24 hours,
may test the 6.125–6.130 level for a potential rebound, but risks further correction if it breaks below 6.08. Investors should remain cautious as volatility remains elevated and momentum appears bearish.Decoding market patterns and unlocking profitable trading strategies in the crypto space

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