Market Overview for Qtum/Tether (QTUMUSDT): 24-Hour Technical Breakdown

• QTUMUSDT declined by ~13.5% over the last 24 hours, closing near support at $1.792.
• Volatility surged with a 15-minute Bollinger Band expansion.
• RSI approached oversold territory, suggesting potential near-term reversal.
• Volume spiked significantly during the sharp sell-off in early afternoon ET.
• No strong bullish candlestick patterns were observed in the last 24 hours.

Qtum/Tether (QTUMUSDT) opened at $1.877 on 2025-11-02 at 12:00 ET and closed at $1.792 by 12:00 ET on 2025-11-03. The pair reached a high of $1.906 and fell to a low of $1.64, marking a sharp selloff. Total volume across the 24-hour period amounted to approximately 1,022,389.7 units, with notional turnover reaching $1,925,594.4. The price action reflects a bearish breakout with a strong move below key support levels.

Structure & Formations

The last 24 hours saw a breakdown below the critical 20-period 15-minute moving average and the 50-period daily MA, indicating a shift in momentum. A clear bearish structure emerged as price tested and broke the $1.80–$1.85 support corridor. A key support level was briefly observed at $1.792, but it was not tested with conviction. Notable bearish patterns included a hanging man formation near $1.806 and a bearish engulfing pattern at $1.804–$1.798, both signaling a continuation of the downward trend.

Moving Averages and MACD

On the 15-minute chart, the price closed well below the 20 and 50 EMA lines, while on the daily chart, it moved below the 50, 100, and 200-day EMA, reinforcing a medium-term bearish setup. The MACD line crossed below the signal line, reflecting bearish momentum, with the histogram showing a steady divergence in favor of sellers. The RSI dropped to 29 by the end of the day, indicating a potential oversold condition, though not yet signaling a guaranteed reversal.

Bollinger Bands and Volatility

Volatility spiked as the price moved from $1.806 down to $1.64 in a span of 3 hours. The Bollinger Bands expanded significantly during this time, and the price spent much of the session near or below the lower band. This suggests heightened selling pressure and potential for consolidation or a short-term rebound in the near term. The recent contraction seen in the final 6 hours could indicate a period of consolidation before the next move.

Volume & Turnover Dynamics

Volume surged sharply during the downward wave from $1.906 to $1.64, particularly on the 15-minute 15:30–15:45 and 16:00–16:15 ET candles, where turnover spiked due to large price gaps. The volume-to-price divergence during the last 6 hours of the session shows a weakening trend in bearish conviction. While the overall volume remains high, the notional turnover has dropped, suggesting some exhaustion in the short-term bearish trend.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute high of $1.906 and low of $1.64, key levels were observed at 38.2% ($1.806), 50% ($1.775), and 61.8% ($1.744). The price tested the 61.8% level briefly before rebounding, suggesting that this zone could act as a potential short-term support or pivot point. On the daily chart, the 61.8% retracement at $1.734 aligns with the recent swing low, making it a critical area for near-term buyers to watch.

Backtest Hypothesis

The attempt to extract a series of Hammer-pattern signals for QTUMUSDT through a technical-indicator interface was unsuccessful due to an asset not found error, likely related to symbol formatting or exchange-specific conventions. To proceed with a viable backtest, either the correct ticker format (e.g., BINANCE:QTUMUSDT) or a manually provided list of Hammer-pattern dates since 2022 is required. Once confirmed, a 5-day holding period strategy can be backtested against these signals to evaluate their efficacy in trending and range-bound conditions.