Market Overview for Qtum/Tether (QTUMUSDT)

Summary
• QTUMUSDT formed a bullish engulfing pattern from 08:15 to 08:30 ET, indicating a potential short-term reversal.
• Price remained above the 20-period moving average on the 5-min chart, suggesting upward momentum.
• RSI dipped below 30 during the 14:30–15:00 ET selloff, signaling possible oversold conditions.
• High-volume corrections occurred between 14:30–15:00 and 16:00–16:15 ET, coinciding with sharp price declines.
• Bollinger Bands widened during the midday sell-off, reflecting increased volatility.

Qtum/Tether (QTUMUSDT) opened at $1.427 on 2025-12-06 12:00 ET, reached a high of $1.448, and closed at $1.422 by 2025-12-07 12:00 ET, with a low of $1.372. Total volume over the 24-hour period was 198,057.5 and turnover amounted to approximately $276,718.

Structure & Formations

Price action on the 5-min chart showed a bullish engulfing pattern from 08:15 to 08:30 ET, followed by a bearish divergence at 14:30–15:00 ET as volume surged with a sharp price drop. Key support levels emerged at $1.416, $1.405, and $1.393, with resistance retesting around $1.425 and $1.433.

Moving Averages

On the 5-min chart, the 20-period moving average remained above price during the morning, supporting the upward bias. However, the 50-period MA crossed below the 20-period after midday, indicating potential bearish momentum. The daily 200-period MA sits around $1.410, with price currently testing this level as support.

MACD & RSI

The MACD showed bearish crossover early in the afternoon with declining histogram bars, aligning with the selloff. RSI dropped to 29 at 14:30 ET, suggesting oversold conditions, though it failed to rebound strongly, indicating weak follow-through buying pressure.

Bollinger Bands

Volatility increased sharply during the midday selloff, causing Bollinger Bands to widen. By the afternoon, price remained near the lower band at $1.393–1.405, suggesting continued pressure toward the downside unless buyers emerge.

Volume & Turnover

Volume spiked during the 14:30–15:00 and 16:00–16:15 ET selloffs, with large notional turnover despite only moderate price declines, indicating aggressive selling or shorting activity.

Fibonacci Retracements

Applying Fibonacci to the 05:00–13:00 ET swing, price found initial support at 61.8% ($1.416) and retested 38.2% ($1.425) multiple times during the day. On the daily chart, the 50% retracement level sits at $1.405, currently being tested as a potential pivot zone.

The market appears to be in a consolidation phase with bearish momentum gaining strength. A break below $1.405 could trigger further downside toward $1.393, but a rebound above $1.425 may restore short-term bullish bias. Investors should remain cautious as volatility remains elevated and momentum indicators show uneven energy distribution.