Market Overview for Qtum/Tether (QTUMUSDT) on 2025-11-09

• QTUM/USDT drifted lower through the day, closing below key support at 1.91.
• A bearish engulfing pattern formed near 1.925–1.910, signaling potential momentum shift.
• Volume spiked during the 23:45–00:00 ET session but failed to support a meaningful bounce.
• RSI and MACD show weakening momentum, with price lingering below 20-period MA on 15-min.
• Volatility expanded as price dropped to 1.881, with Bollinger Bands stretching wider through the night.

Qtum/Tether (QTUMUSDT) opened at 1.912 on 2025-11-08 12:00 ET, reached a high of 1.946, touched a low of 1.862, and closed at 1.941 as of 12:00 ET on 2025-11-09. Total volume was 509,260.0, while notional turnover amounted to 952,239.13 USD. A bearish bias emerged as price failed to retest intraday highs multiple times and broke key psychological levels during the overnight session.

The structure of the day suggests a bearish continuation with a potential pivot forming near the 1.91–1.925 range. A bearish engulfing pattern appeared around 1.925–1.910 during the 23:30–00:00 ET timeframe, which may indicate a reversal in bullish sentiment. Additionally, the 20-period moving average on the 15-minute chart acted as a resistance, with price failing to hold above it for long. A notable bearish divergence appeared in the late morning session between price and RSI, hinting at potential exhaustion in the downward move.

Momentum indicators like RSI and MACD showed diverging signs of weakening bullish momentum. RSI approached oversold territory during the early morning hours, reaching a low of approximately 30, but failed to trigger a strong bounce. Meanwhile, MACD lines remained negative with the signal line crossing below the zero level, reinforcing the bearish bias. Price traded below the 20-period moving average for much of the session and only crossed back above it briefly in the late afternoon. On the daily chart, the 50-day MA appears to be the next potential support level if the bearish trend continues.

Bollinger Bands widened significantly during the overnight session as price dropped to 1.881, indicating a period of high volatility. Price spent the majority of the day outside the upper band before rolling back toward the lower band in the early morning. A contraction in the width of the bands was observed during the midday hours, suggesting a potential setup for a breakout or continuation of the downward trend. The 61.8% Fibonacci retracement level of the 1.862–1.946 move sits at approximately 1.906, which could serve as a pivot point in the coming sessions.

Backtest Hypothesis

Given the RSI divergence and bearish momentum observed, a potential backtesting strategy could focus on detecting RSI overbought levels (>70) as sell signals. While RSI data is currently unavailable for this symbol, using a standard 14-period RSI on closing prices would provide a consistent basis for historical testing. If this approach is applied, a 3-day holding period could be used to evaluate its effectiveness. The results would depend on the exchange’s price data, as QTUM/USDT liquidity and spreads can vary across platforms such as Binance, OKX, or Coinbase. Once the data is retrieved and the strategy validated, it may help refine a more precise entry and exit framework for QTUMUSDT.