Market Overview for Qtum/Tether (QTUMUSDT) – 24-Hour Analysis

• Qtum/Tether (QTUMUSDT) opened at $2.195 and closed at $2.249, with a 24-hour high of $2.274 and low of $2.15.
• Price saw a bullish breakout after forming a hammer pattern near $2.15 and a bullish engulfing pattern near $2.20.
• RSI surged past overbought territory, while volume spiked during the $2.20–$2.275 upmove.
• Bollinger Bands expanded significantly during the rally, indicating heightened volatility.
• Turnover increased sharply during the final 6 hours of the period, confirming the bullish momentum.

Qtum/Tether (QTUMUSDT) opened at $2.195 on 2025-09-23 12:00 ET and closed at $2.249 by the same time on 2025-09-24. The 24-hour high reached $2.274, while the low fell to $2.15. Total volume across the period was approximately 190,956.1, and notional turnover amounted to around $423,211. The asset exhibited strong bullish momentum in the final hours, capped by a sharp rally in the last 1.5 hours.

Structure & Formations

Price action revealed multiple key turning points over the 24-hour window. A notable hammer pattern emerged at the $2.15 level on 2025-09-24 03:30 ET, suggesting a short-term bounce. Later, at 14:30 ET, a bullish engulfing pattern formed at $2.20, confirming a strong reversal. The price then continued higher, forming a series of higher highs and higher lows until closing near $2.249. Key support appears to be forming around the $2.16–$2.18 range, while resistance levels are now at $2.25–$2.275, with the next critical level at $2.28 if the current trend continues.

Moving Averages and Volatility

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bullish alignment during the last 6 hours, indicating a strengthening uptrend. The 20-period MA pulled ahead of the 50-period MA in the final 2 hours, confirming a short-term bullish bias. Volatility, as measured by Bollinger Bands, expanded significantly following the $2.15 bounce, and the price has remained above the upper band since the $2.225 level on 2025-09-24 13:30 ET. This suggests that the current move is driven by strong conviction.

Momentum and Divergences

Momentum, as captured by the RSI and MACD, has shown a sharp increase in the last 6 hours. RSI moved into overbought territory (above 65) after the 14:30 ET rally, indicating possible exhaustion at current levels. However, the divergence between price and RSI is not yet a bearish signal. The MACD histogram expanded positively, with both lines trending upward, reinforcing the bullish narrative. Price and turnover have moved in tandem during the $2.20–$2.275 upmove, validating the strength of the recent move.

Volume and Turnover Insights

Volume and turnover data highlight a clear divergence in the last 24 hours. While volume remained moderate during the initial consolidation phase between $2.15–$2.18, it spiked sharply during the 14:00–16:00 ET rally, with the highest volume spike at 15:30 ET (34,819.7 units). This aligns with the price break above $2.25 and confirms buyer participation. Turnover surged from ~$140k to over $380k during the final 6 hours, indicating strong notional liquidity. The price–turnover correlation is positive, suggesting no immediate signs of exhaustion.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 24-hour swing (from $2.15 to $2.275), the 61.8% level is around $2.224, and the 78.6% level is approximately $2.257. Price closed at $2.249, just below the 78.6% level, suggesting potential for a continuation above that threshold if the trend holds. On the daily chart, retracements from the last major high (~$2.30) show a key support at ~$2.15 and resistance at ~$2.26–$2.28. These levels could play a role in the next 24–48 hours.

Backtest Hypothesis

Given the recent price action and technical indicators, a potential backtest strategy could involve a long bias at the close of the bullish engulfing pattern near $2.20, with a stop loss just below $2.18 and a target at $2.25–$2.275. The strategy would aim to capture the momentum confirmed by the MACD and volume surge. A trailing stop could be applied after the 61.8% Fibonacci level is reached. This approach leverages the breakout pattern and confluence of bullish divergences for a high-probability trade.