Market Overview for QuarkChain/Tether (QKCUSDT)

• Price opened at $0.005158, peaked at $0.005307, and closed at $0.005195, showing a choppy 24-hour range.
• Momentum shifted mid-day with a sharp bullish breakout, but failed to hold above $0.005224.
• Volume spiked near the 24-hour high but did not confirm sustained strength, indicating possible divergence.
• RSI reached overbought territory, suggesting potential near-term pullback, while Bollinger Bands showed moderate volatility.
• A key support level appears forming around $0.005150, where buying interest has been retested multiple times in the past 24 hours.

QuarkChain/Tether (QKCUSDT) opened at $0.005158 on 2025-10-31 at 12:00 ET and closed at $0.005195 at 12:00 ET on 2025-11-01. The 24-hour high and low were $0.005307 and $0.005060, respectively. Total volume traded was approximately 23,230,322 units, with a notional turnover of roughly $120,000, suggesting increased market activity during the trading session.

Structure & Formations

The 24-hour candlestick chart for QKCUSDT reveals a series of mixed signals. The price initially drifted lower in the early hours of the morning before a sharp bullish reversal began around 09:15 ET, where the price broke above a key resistance level near $0.005180. A bullish engulfing pattern formed at this time, suggesting a potential reversal in the short term. However, the momentum could not hold, and the price retracted into a consolidation phase around midday. A key support level appears to be forming near $0.005150, where the price has been repeatedly tested and bounced back, indicating the presence of strong buying interest in this range.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA20) crossed above the 50-period moving average (SMA50) around 09:15 ET, signaling a potential bullish crossover. This event coincided with the formation of the bullish engulfing pattern. However, the price quickly moved back below the SMA50 in the following hours, indicating a possible loss of momentum. On the daily chart, the 50-period moving average (SMA50) remains above the 200-period moving average (SMA200), suggesting the asset is in a long-term bullish trend, but this could be challenged if the price fails to hold above key resistance levels.

MACD & RSI

The MACD indicator showed a bullish signal when the line crossed above the signal line around 09:15 ET, coinciding with the bullish engulfing pattern and the breakout from key resistance. However, the momentum quickly reversed, and the MACD line moved back below the signal line, suggesting that the bullish move was not confirmed by volume. The RSI indicator peaked near the overbought threshold of 70 during the mid-day rally, indicating a potential overextension of the bullish move. A pullback to the 50–55 RSI range may be expected in the short term, which is considered neutral and may indicate consolidation.

Backtest Hypothesis

To validate the technical signal observed in this report, a backtest of the Bullish-Engulfing candlestick pattern could be conducted for the symbol QKCUSDT using the correct format—such as BINANCE:QKCUSDT—over the historical period from January 1, 2022, to the present. The backtest would involve identifying all occurrences of the pattern, entering a long position at the close of the engulfing candle, and exiting after a 1-day holding period. This simple strategy can help assess whether the pattern historically predicts a positive return. Once the correct symbol format is confirmed, the backtest can be implemented to provide further insight into the predictive power of this pattern on this asset.

Bollinger Bands & Volatility

Bollinger Bands revealed a moderate expansion in volatility during the late morning to early afternoon hours, as the price moved sharply above the upper band. This suggests a temporary increase in market enthusiasm. However, the price soon retracted back within the bands and settled near the middle band by the end of the day. This indicates that the volatility spike may have been short-lived and could be followed by a period of consolidation. The price has remained within the channel for most of the 24 hours, suggesting a lack of directional bias.

Volume & Turnover

Volume spiked significantly during the bullish breakout, with a sharp increase in trading activity as the price moved above $0.005180. However, the volume did not confirm the strength of the move, as the price subsequently retracted without further volume spikes. This divergence between price and volume may indicate a lack of conviction behind the bullish move. The notional turnover also increased during the breakout but failed to maintain a rising trend afterward, suggesting that the move was not broadly supported by institutional or large-cap traders.

Fibonacci Retracements

Fibonacci retracement levels were drawn from the recent swing high at $0.005307 to the swing low at $0.005060. The price has bounced off the 38.2% level (~$0.005190) and the 61.8% level (~$0.005120) multiple times over the past 24 hours. The 61.8% level appears to be acting as a strong support, while the 38.2% level seems to offer resistance. A breakout above the 38.2% level could indicate renewed bullish momentum, whereas a failure to hold above this level may push the price lower toward the 61.8% level.

Looking ahead, QKCUSDT appears to be in a period of consolidation after a sharp but unconfirmed bullish move. The formation of a bullish engulfing pattern and the RSI reaching overbought territory suggest a potential short-term pullback, but the strong support near $0.005150 offers a floor for further downside. Investors should monitor volume and RSI behavior for signs of renewed momentum. Risks include a potential breakdown below key support levels, which could lead to increased volatility and further bearish pressure in the coming 24 hours.