UNI 8H – Rising Channel Pullback Into Key HorizontalUNI / TetherUSBINANCE:UNIUSDTBKVIPUNI on the 8H timeframe is currently trading around 3.946 after reaching the upper channel boundary near 4.400–4.500 on July 25 and pulling back sharply, with price now sitting at the 3.946–4.000 horizontal pivot that has been a consistent reference point throughout the channel structure. The chart shows a rising parallel channel originating from the late May low near 2.290, with the lower trendline connecting the May 27 bottom through the June 25 low near 2.760 and continuing to climb into the 3.200–3.400 area currently, while the upper trendline capped the June 17 high near 3.760, the July recovery highs, and the July 25 high near 4.400–4.500. Price has made three clean oscillations inside the channel, bouncing from the lower boundary each time before pushing into the upper trendline. A horizontal level near 3.946–4.000 has been a recurring pivot through the upper portion of the channel, acting first as resistance before the July 25 breakout above it and now as support following the pullback from the upper boundary. The pullback from the July 25 high has been sharp, dropping from 4.400–4.500 back through 4.200 and now pressing directly into the 3.946–4.000 level. The 3.946–4.000 horizontal is the first meaningful support level on the current pullback and sits well above the rising lower trendline near 3.200–3.400, with the channel structure fully intact as long as the lower trendline continues to hold. Key Levels To Watch → 4.400–4.500 Upper channel boundary, resistance (dynamic) → 4.200–4.250 Minor resistance, recent rejection zone → 3.946–4.000 Horizontal pivot, current support test → 3.750–3.800 Secondary support, prior resistance zone → 3.500–3.600 Mid-channel support zone → 3.200–3.400 Rising lower trendline, dynamic support (climbing) → Below 3.050 Channel breakdown, bullish structure at risk A hold above 3.946–4.000 and a recovery back toward the upper channel boundary near 4.200–4.400 would confirm the horizontal as active support and keep the bullish channel structure fully intact, with the prior high near 4.400–4.500 as the immediate target above. A loss of 3.946–4.000 and a pullback toward the rising lower trendline near 3.200–3.400 would be a deeper channel retracement, and a confirmed 8H close below the lower trendline would break the structure that has held every significant low since late May. Sharp pullback from upper boundary now testing horizontal pivot inside rising channel. Hold 3.946–4.000 → channel intact, upper boundary near 4.400–4.500 back in play. Lose 4.000 and trendline near 3.200–3.400 → channel structure at risk, downside toward 3.050. Bias bullish inside rising channel. Shift only on confirmed close below rising lower trendline.