Market Overview: Quickswap/Tether (QUICKUSDT) 24-Hour Price Action and Momentum

Summary
• Price increased from $0.01604 to $0.01774, driven by a late surge.
• Volatility rose as highs and lows expanded toward $0.01783 and $0.01630.
• Volume spiked in the 16:00–17:00 ET timeframe, confirming the breakout.

The Quickswap/Tether pair (QUICKUSDT) opened at $0.01604 on 2025-11-06 at 12:00 ET and closed at $0.01774 on 2025-11-07 at 12:00 ET, reaching a high of $0.01783 and a low of $0.01630. Total volume for the 24-hour period was 12.59 million contracts, with notional turnover amounting to $2.23 million, reflecting heightened activity during the late session.

The price action displayed a clear bullish bias, with a strong rally beginning around 15:00 ET. A key breakout candle formed on the 15-minute chart during the 16:15–16:30 ET window, printing a long upper wick and a close near the high, indicating strong buying pressure. This was supported by a surge in volume, which exceeded 849,513 contracts for the 16:30–16:45 ET session. Resistance levels formed at key 15-minute high points like $0.01718 and $0.01724, while support levels were observed at $0.01699 and $0.01684. A potential bearish reversal candle emerged at 14:45–15:00 ET, forming a potential bearish engulfing pattern, though the price quickly recovered.

The 20-period and 50-period moving averages on the 15-minute chart suggest a bullish trend, with the 50-period line lagging behind the price. The RSI reached overbought territory above 70 at the close of the session, signaling a potential pullback or consolidation phase. The MACD line crossed above the signal line in the morning and remained in positive territory, suggesting continued momentum. Volatility, as measured by Bollinger Bands, expanded significantly in the afternoon, with price staying above the 20-period moving average and trading near the upper band for much of the session.

Fibonacci retracement levels from the key swing high at $0.01783 and low at $0.01630 show the current price is near the 38.2% retracement level at $0.01715, suggesting potential for further upward movement toward the 61.8% level at $0.01750 or the $0.01783 high. Volume and turnover correlated well in the late session, but a divergence appeared between price and volume during the 15:00–15:30 ET window, raising potential caution about the strength of the breakout.

The pair appears poised to test its recent high, but traders should monitor the 15:00 ET volume divergence and the RSI for signs of exhaustion. A retest of the $0.01715 Fibonacci level could offer a low-risk entry for buyers, while a failure to maintain above $0.01699 may trigger a short-term correction.

Backtest Hypothesis

The bullish breakout confirmed by the 16:15–16:30 ET candle aligns with a common pattern-based backtest that targets a one-day holding period after the formation of a breakout candle with strong volume confirmation. This strategy would typically enter long at the open of the candle after the breakout and target the 38.2% to 61.8% Fibonacci retracement levels or the prior high as profit-taking levels. A stop loss could be placed below the 15:00–15:30 ET divergence zone to protect against a reversal. Given the volume and momentum indicators, this pattern could serve as a viable test for historical performance on similar setups.