Market Overview for Quickswap/Tether (QUICKUSDT)

Summary
• Price dropped sharply below 0.0164, signaling bearish momentum and possible key support testing.
• MACD histogram shows bearish divergence, while RSI near oversold levels suggests potential for a short-term bounce.
• Volume surged during the decline, confirming bearish pressure, but turnover shows signs of exhaustion near 0.0159.
• A potential bullish reversal pattern formed near 0.0160–0.0161, with 61.8% Fib support at 0.01603.
• Volatility expanded during the session, with Bollinger Bands widening as price tested lower boundaries.

Quickswap/Tether (QUICKUSDT) opened at 0.01663 on 2025-11-03 12:00 ET and closed at 0.01601 on 2025-11-04 12:00 ET, with a 24-hour high of 0.01685 and low of 0.01586. Total traded volume reached 14,348,160, while notional turnover stood at $229,570, reflecting strong bearish activity during the session.

Price action during the 24-hour period was dominated by a sustained decline, with a key breakdown below the 0.0164 level. The candlestick pattern suggests a bearish continuation, with several long-bodied candles confirming downward momentum. A potential bullish reversal pattern emerged in the final hours, as price briefly tested the 0.0160–0.0161 range, hinting at short-term support. The 15-minute 20-period and 50-period moving averages both trended lower during the session, indicating a strong bearish bias.

Volatility expanded significantly throughout the session, with Bollinger Bands widening and price lingering near the lower band during the decline. This pattern, along with the RSI reading approaching oversold territory near 0.0159, suggests short-term exhaustion in the bearish move. However, volume remained elevated during the decline, which reinforces the bearish narrative. Divergence between price and RSI may hint at a potential rebound in the near term, particularly if the 0.0160–0.0161 area holds.

Fibonacci retracement levels from the recent 15-minute swing indicate key support at 0.01603 (61.8%) and 0.01593 (78.6%). A break below 0.01593 could target the next level at 0.01586. Resistance remains untested for now, but buyers may look to reclaim 0.0162–0.0164 for a potential bullish reversal. Overall, the market appears bearish in the short term, with limited upside unless a strong bullish catalyst emerges.

Backtest Hypothesis
The backtest strategy involves a mean-reversion setup triggered by a price closing near the lower Bollinger Band with RSI in oversold territory and a bullish reversal pattern confirmed. Entry is placed at the close of the next candle above the 61.8% Fib level, with a stop loss set below the prior swing low. A take-profit target is set at the 38.2% Fib retracement. This strategy aims to capitalize on the recent bearish exhaustion and potential short-term bounce in a range-bound scenario.