Market Overview for Qtum/Tether (QTUMUSDT) on 2025-11-07

Summary
• Qtum/Tether (QTUMUSDT) saw a 24-hour range of $1.688–$1.94, closing at $1.936 with increased volume.
• A breakout above $1.85 confirmed bullish momentum, with RSI showing overbought conditions.
• Bollinger Bands expanded during the final hours, signaling heightened volatility.

Qtum/Tether (QTUMUSDT) opened at $1.704 on 2025-11-06 at 12:00 ET, reached a high of $1.94, touched a low of $1.688, and closed at $1.936 on 2025-11-07 at 12:00 ET. Total 24-hour volume was 161,549.6 with a notional turnover of $301,434.32.

The 15-minute chart showed a clear bullish breakout above key resistance at $1.85, followed by a push to $1.94. A strong green close near the upper Bollinger Band on the final candle suggests increased volatility and a possible consolidation phase. The 20-period EMA rose above the 50-period EMA, reinforcing the upward bias. A bearish divergence appeared in the RSI, however, suggesting caution for short-term overbought conditions.

A notable pattern was the bullish engulfing candle at $1.72–$1.732 at 17:30 ET, which marked the start of the upward trend. A doji appeared at $1.724–$1.726 at 18:45 ET, signaling indecision. Fibonacci retracements showed the price retracing 61.8% of the $1.72–$1.94 move before testing the upper band again.

Bollinger Bands expanded during the final hours of the 24-hour period, with the price closing near the upper band, suggesting heightened volatility and the potential for a pullback. Volume spiked during the breakout and again at the high near $1.94, confirming strength. However, a divergence between rising prices and declining volume in the final 90 minutes may indicate a short-term pause.

Backtest Hypothesis
The proposed backtest strategy aims to leverage MACD golden cross signals and 1-day holding periods for QTUMUSDT. Given the internal error when retrieving MACD data for the ticker, alternative solutions are required. The MACD golden cross is a widely used momentum indicator that could help identify entry points for short-term trades. To proceed, the data format must be adjusted or the historical file sourced manually. Once the data is valid, the strategy can be tested with optional stop-loss and take-profit levels. This approach can help evaluate the asset’s responsiveness to momentum-based signals.