Summary
•
declined sharply after testing 1.30 resistance, forming bearish engulfing patterns.
• RSI and MACD signal overbought exhaustion earlier, followed by bearish momentum acceleration.
• Volume spiked during key selloffs, confirming bearish sentiment as price dropped 11.3% from open.
• Bollinger Bands expanded during the decline, indicating heightened volatility and trend continuation risk.
• Fibonacci 61.8% level at 1.268 now in focus, potentially acting as near-term support.
Qtum/Tether (QTUMUSDT) opened at 1.296 on 2025-12-20 12:00 ET, peaked at 1.30, and closed at 1.249 at 2025-12-21 12:00 ET, after hitting a low of 1.241. Total 24-hour volume was 136,208.6 and turnover amounted to 171,905.76.
Structure & Formations
Price tested the 1.30 resistance level twice during the session but failed to hold, forming bearish engulfing patterns. A long bearish shadow at 1.295–1.299 and a doji at the 1.292 level signaled indecision before the sharp decline. The 1.278 level acted as a temporary floor during the selloff.
Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart crossed below price during the early morning session, confirming bearish momentum. Daily 50/100/200 EMA alignment suggests the broader trend favors continuation of the downtrend.
MACD & RSI
The 5-minute MACD showed bearish crossover following a brief overbought phase around 1.30, with bearish divergence in the final hours. RSI dropped sharply from 60 to 27 over four hours, indicating strong bearish pressure and oversold conditions.
Bollinger Bands
Volatility expanded significantly during the decline, with price breaking below the lower Bollinger Band at 1.245. The width of the bands suggests continued directional movement rather than consolidation.
Volume & Turnover
Volume spiked sharply during the selloff between 22:30 and 00:30 ET, particularly around the 1.292 and 1.285 levels. Turnover aligned closely with price action, with no significant divergence observed. The largest single candle (1.273 to 1.253) accounted for 18,460.7 volume, reinforcing the bearish narrative.
Fibonacci Retracements
Fibonacci levels drawn from the 1.241 low to the 1.293 high show the 38.2% at 1.277 and the 61.8% at 1.268. Price currently hovers near the 61.8% level, which may act as a potential support or retest zone.
With QTUMUSDT near key Fibonacci support and MACD/RSI suggesting overbought exhaustion earlier in the session, a possible bounce or consolidation may emerge, but bears remain in control.
Traders should watch for a break below 1.241 or a rejection above 1.268 to define the next directional move, with caution advised on potential volatility spikes.
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