Summary
• Price dropped from 1.313 to 1.273 over 24 hours, forming bearish engulfing and rejection patterns.
• Volume surged over 10,000 at key support levels, suggesting accumulation.
• RSI reached oversold territory, hinting at potential near-term reversal.
Qtum/Tether (QTUMUSDT) opened at 1.310 on 2025-12-29 at 12:00 ET, hit a high of 1.313, fell to a low of 1.269, and closed at 1.273 on 2025-12-30 at 12:00 ET. Total volume was 228,810.5, with a notional turnover of 288,110.13 USDT.
Structure & Formations
Price experienced a sharp sell-off in the early morning (ET), forming bearish engulfing patterns around 1.309 to 1.273. A key support level emerged near 1.273–1.269, as multiple 5-minute candles showed rejection and volume confirmation. A small doji formed at 1.273 near the close, suggesting possible exhaustion in the bearish momentum.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages both remained above the current price, reinforcing the bearish bias. The daily 50/100/200 SMA structure is not immediately visible due to insufficient data, but recent price behavior appears to be below all intermediate-term averages.
MACD & RSI
The MACD moved below zero in the early morning session, signaling bearish momentum. RSI reached 27 by 04:00 ET, entering oversold territory, which may signal a short-term bounce. However, the price failed to break above the 1.283 level, suggesting a lack of conviction in the recovery.
Bollinger Bands
Volatility expanded as price fell toward 1.269, with the lower band tightening just before the low. Price closed near the lower band, suggesting it is still in a consolidation or bearish phase.
Volume & Turnover
The largest volume spike occurred at 00:15 ET (1.293 to 1.282), with 34,919.7 volume and $44,740.2 turnover, confirming the sharp sell-off. Volume declined after 05:00 ET, as price consolidated between 1.273 and 1.269. Price and turnover aligned during the move down, suggesting strong bearish participation.
Fibonacci Retracements
Applying Fibonacci to the 1.313 to 1.273 swing, price appears to find initial support at the 61.8% level (~1.284), which failed to hold. The 50% level (~1.293) and 38.2% level (~1.297) may serve as potential resistance if a bounce occurs in the next 24 hours.
Price may test the 1.273–1.269 range for support again and could see a short-term bounce if RSI reclaims 30 with a volume confirmation. However, without a clear break above 1.284, bearish pressure could continue. Investors should remain cautious about volatility and potential false breakouts.
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