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Summary
• Price declined from 0.01394 to 0.01338 amid bearish momentum and oversold RSI.
• Volatility expanded in early hours, with Bollinger Bands widening after a contraction.
• Large 5-minute bearish volume spikes observed during key breakdowns below 0.0137.
• Fibonacci support at 0.01361–0.01352 tested and failed; next targets near 0.0134 and 0.01327.
• No bullish confirmation seen; bearish engulfing patterns and long shadows dominate recent structure.
Quickswap/Tether (QUICKUSDT) opened at 0.01392 at 12:00 ET-1 and closed at 0.01338 by 12:00 ET, hitting a high of 0.01394 and a low of 0.01327. The pair traded on a 24-hour volume of 11,618,404.0 and turnover of 156,302.17 USDT.
Price formed a bearish trend with multiple engulfing candles, especially between 0.0137 and 0.0135. A notable bearish divergence in price and RSI emerged as the pair broke down below key Fibonacci levels. A 5-minute doji at 0.01357 suggested potential short-term indecision but failed to trigger a rebound. The 20-period moving average on the 5-minute chart remained bearish, reinforcing the downward trajectory.
RSI dropped into oversold territory, reaching as low as 25 during the 0.01338 low, suggesting possible exhaustion of downward pressure. MACD turned negative early, with a bearish crossover and declining momentum. Volatility expanded after a contraction in the early hours, with Bollinger Bands widening as price hit the lower band and tested 0.0134 before resuming decline.
Volume spiked significantly during key breakdowns, particularly between 0.0137 and 0.0136, confirming bearish momentum. Turnover increased in line with price declines, with the largest single 5-minute candle at 0.01338 contributing 3584.79 USDT in turnover. Divergence between price and turnover was not observed, suggesting consistent bearish conviction.
Price appears to be targeting the next Fibonacci level at 0.01327, with a potential for a short-term bounce if it finds support near 0.0134. However, the overall bias remains bearish unless buyers step in to defend key levels. Investors should watch for a failure to hold above 0.0134, which could accelerate the downtrend.
In the next 24 hours, a reversal above 0.0137 may offer a temporary reprieve, but without a strong bullish confirmation, further downside remains probable.
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