Market Overview for QuarkChain/Tether (QKCUSDT)

Summary
• Price declined from 0.005008 to 0.00479 on heavy volume.
• Key support tested at 0.00482–0.00489.
• Volatility rose significantly in the last 12 hours.
• RSI approached oversold levels, suggesting potential bounce.
• A bearish engulfing pattern formed around 0.00494–0.00490.

Market Overview

QuarkChain/Tether (QKCUSDT) opened at 0.005001 on 2025-11-12 at 12:00 ET and closed at 0.00479 on 2025-11-13 at 12:00 ET. The 24-hour high reached 0.005065, while the low fell to 0.004786. Total volume traded was 55.49 million USD, and notional turnover came in at approximately 269,254 USD.

Structure & Formations

Price action displayed a bearish reversal pattern, including a large bearish engulfing candle around 0.00494–0.00490, indicating strong selling pressure. A key support level appears to be forming around the 0.00482–0.00489 range, which has seen several bounces and retests. A doji candle emerged near 0.004942, suggesting indecision among traders.

Moving Averages

Short-term (15-min) moving averages such as the 20 and 50 periods show a bearish crossover, with the 20-period line now below the 50-period line. On the daily chart, the 50-period moving average is currently above the 200-period line, indicating a mixed outlook with a potential for a pullback in the near term.

MACD & RSI

The MACD indicator showed a bearish crossover, with the histogram trending downward. RSI approached the oversold threshold at 30 during the latter half of the 24-hour period, hinting at a potential short-term rebound. However, the RSI remains below its 50-level, signaling continued bearish momentum.

Bollinger Bands

Price tested the lower band of the Bollinger Bands multiple times, particularly below 0.00486, indicating a high degree of volatility and potential exhaustion of bearish momentum. The bands themselves have widened significantly, reflecting increased market uncertainty and risk of a pullback or sharp reversal.

Volume & Turnover

Volume surged notably after 2025-11-13 at 14:30 ET, coinciding with the sharp decline in price to the intraday low of 0.004786. Notional turnover mirrored this increase, suggesting increased conviction in the bearish move. A divergence between price and volume at the lower end of the range may indicate potential exhaustion of downward pressure.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-min move from 0.005008 to 0.004786, the 38.2% level lies at 0.004927, and the 61.8% level at 0.004881. Price is now testing the 61.8% retracement level, suggesting it could either rebound from this key support or break through it, continuing the downward trajectory.

Backtest Hypothesis

To evaluate the effectiveness of a specific candlestick pattern, such as the Morning Star, a backtesting strategy could be implemented. The strategy would involve identifying the dates when the Morning Star pattern occurs and evaluating the subsequent 5-day price performance. Without access to the required data, we face three options: manual input of occurrence dates, programmatically detecting the pattern from raw OHLC data, or switching to an alternative indicator. Choosing any of these paths will help align the backtesting effort with the technical narrative above, offering a data-driven method to assess the predictive power of the pattern in QKCUSDT’s price movements.