UNIUSDT Dips to $3.756, Then Fights Back — But Will the Rally Hold?

Summary
• Price dropped from $4.016 to $3.756, then recovered to $4.018, forming a bullish reversal pattern late in the session.
• Volume surged over $1M at 18:45 ET, coinciding with a sharp decline to $3.756.
• RSI hit oversold territory below 30 before a rebound, indicating potential exhaustion of downward momentum.
• Bollinger Bands widened during the sharp move, suggesting rising volatility.
• Fibonacci retracement levels at $3.894 and $3.957 acted as key psychological and technical pivots.

At 12:00 ET on 2026-02-01, Uniswap/Tether (UNIUSDT) opened at $4.009, hit a high of $4.029, fell to a low of $3.703, and closed at $3.942. Total volume reached ~7.5 million UNI, with notional turnover at ~$29.6 million over the 24-hour period.

Structure & Key Levels

The price action showed a sharp selloff during the 18:45 ET 5-minute candle, dropping from $3.822 to $3.756 on heavy volume, signaling a moment of panic. A subsequent rally from $3.756 to $4.018 formed a bullish recovery with a potential three-white-soldiers pattern near the session close. Key support levels held at $3.894 and $3.756, while resistance re-emerged at $3.957 and $4.009, aligning with Fibonacci retracement levels from the session’s largest swing.

Volatility and Momentum

Bollinger Bands widened during the sharp sell-off, reflecting a spike in volatility, and gradually contracted as price stabilized toward the end of the session. The RSI dipped below 30 during the selloff, indicating oversold conditions, and then recovered to mid-40s by the close, suggesting short-term bearish momentum may be waning. MACD remained neutral with no clear divergence, although the histogram showed narrowing bearish momentum after 20:00 ET.

Volume and Turnover

Turnover spiked to over $1 million at 18:45 ET during the sharp drop to $3.756, while volume declined in the final hours as the market consolidated. Price and turnover aligned during the selloff, offering confirmation of the move. However, volume during the rebound was relatively modest, suggesting the upward move may require further confirmation to hold.

Forward-Looking Insight and Risk Caveat

The recent rebound from $3.756 and retesting of key Fibonacci levels may suggest a possible consolidation phase ahead. However, without a decisive break above $4.029 or a sustained drop below $3.756, the market could remain range-bound. Investors should monitor volume during the next 24 hours for confirmation of the next directional move.