Summary
•
broke above key resistance of $0.003910 on strong volume during the New York session.
• A bullish engulfing pattern formed at 00:30 ET, confirming a short-term reversal.
• Volatility expanded sharply after 03:45 ET, with price reaching a high of $0.003995.
• RSI moved into overbought territory but remains aligned with price, suggesting momentum is intact.
• Bollinger Bands widened, indicating increasing uncertainty ahead of Fibonacci 61.8% level at $0.003940.
At 12:00 ET, QuarkChain/Tether (QKCUSDT) traded at $0.003994, up from an open of $0.003887 and a low of $0.003891, with a 24-hour high of $0.003995. Total volume reached 11,992,597.0, and turnover was approximately $48,743.43.
Structure & Formations
Price broke through a key resistance cluster near $0.003910 in the afternoon, followed by a bullish engulfing pattern at 00:30 ET, signaling a short-term reversal. The 61.8% Fibonacci retracement level at $0.003940 became a temporary ceiling, while support appears firm near $0.003903.
Moving Averages
On the 5-minute chart, price closed above both the 20 and 50 SMA during the final hours, indicating bullish momentum. The 200 SMA on the daily chart remains well below the current price, suggesting a broader uptrend is intact.
Momentum & Volatility
RSI rose to 64 by 06:15 ET, entering overbought territory and signaling potential for consolidation. MACD crossed above the signal line during the morning, confirming a bullish shift. Bollinger Bands expanded after 03:45 ET as volatility increased, with price testing the upper band multiple times.
Volume & Turnover
Volume surged sharply during the 06:15 ET candle with 3,532,964.0 traded, coinciding with a breakout to $0.003995. Turnover increased in tandem, validating the move higher. No notable divergence was observed between price and volume, suggesting buying pressure remains strong.
The market appears to be testing the upper end of the recent consolidation range, with the Fibonacci 61.8% level acting as a near-term target. Price could continue upward if buyers defend $0.003903, but a pullback into this area may offer a buying opportunity. Traders should monitor for signs of exhaustion in momentum indicators and watch for a break below $0.003903 as a potential risk.
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