Market Overview for QuarkChain/Tether (QKCUSDT): Strong Bullish Reversal and Momentum

• QKCUSDT opened at $0.006246 and closed at $0.006268, forming a bullish reversal pattern near key support.
• Price surged above the 20-period SMA, with RSI showing positive momentum and no overbought conditions.
• Volatility expanded as price broke out of a Bollinger Band contraction, with volume confirming the upward move.
• A 61.8% Fibonacci retracement level was tested and held, suggesting strong near-term support.
• Turnover increased significantly during the morning and midday ET, aligning with price strength and trend confirmation.

Market Action and Key Levels

QuarkChain/Tether (QKCUSDT) opened at $0.006246 on 2025-09-22 at 12:00 ET, and closed at $0.006268 by the same time on 2025-09-23. The 24-hour high was $0.006307, and the low was $0.006138. Total volume traded was 9,845,367.0, with notional turnover standing at $61,514.89. A key bullish reversal pattern emerged late in the session, with price finding support around $0.006185 and pushing higher. A strong engulfing candle at 06:45 ET marked the start of the reversal, followed by a series of higher highs and higher lows. Support levels appear near $0.006201 and $0.006185, while resistance is seen at $0.00629 and $0.006307.

Moving Averages and Trend Confirmation

The 15-minute chart shows QKCUSDT closing above its 20-period and 50-period moving averages, a positive sign for short-term bulls. On the daily timeframe, price is approaching the 50-period SMA from below, with the 100- and 200-period SMAs still above current levels. This suggests a potential transition from a bearish to a bullish bias, although confirmation above the 100 SMA could be required for full trend adoption. The convergence of moving averages may indicate a possible inflection point in the near term.

Momentum and Volatility Indicators

RSI rose steadily from 35 to 58 over the 24-hour period, indicating positive momentum without reaching overbought territory. MACD lines showed a narrowing of the bearish histogram and a bullish crossover in the early hours of 2025-09-23. Bollinger Bands saw a noticeable expansion after a period of contraction, suggesting increasing volatility. Price tested the lower band near $0.006138 but bounced off with strong volume, signaling strong support in that range. These dynamics imply that the market is testing key levels with increased conviction.

Volume and Turnover Analysis

Volume spiked during the early morning (03:15–04:45 ET) and midday (11:45–12:00 ET) periods, confirming the bullish breakouts and the strength of the reversal. Turnover mirrored volume patterns, with a surge in the morning hours followed by a gradual tapering during the afternoon. A divergence between volume and price action was not observed, indicating strong alignment between buying pressure and directional movement. This suggests that the current upward trend is supported by genuine demand.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing (from $0.006138 to $0.006307), the 61.8% level is at $0.006237. Price held above this level during the morning and pushed further, indicating strength. On the daily chart, a larger swing from $0.00615 to $0.006305 shows the 61.8% retracement at $0.006219, which was tested and rejected in the early hours of the 24-hour window, before a strong rebound. These levels suggest a possible consolidation phase around $0.006230–$0.006270 in the near term.

Backtest Hypothesis

The proposed backtest strategy involves entering long positions on a bullish engulfing pattern confirmed by a breakout above the 20-period SMA on the 15-minute chart, with a stop-loss placed below the 61.8% Fibonacci retracement of the preceding bearish swing. A take-profit target is set at the next key resistance level, typically the 50-period SMA or a recent high. The QKCUSDT data aligns well with the conditions for this strategy, particularly the engulfing pattern at 06:45 ET and the subsequent move above the 20-period SMA. This suggests the strategy may have captured a significant portion of the reversal move, validating its potential for use in similar setups.