Market Overview for Quickswap/Tether (QUICKUSDT)

Summary
• Price opened at $0.01792 and closed at $0.01803, with a 24-hour high of $0.01978.
• Notable volatility and volume spike at 03:45 ET pushed price to a 24-hour peak.
• A bullish engulfing pattern formed late in the session, signaling potential upward momentum.

Market Overview

Quickswap/Tether (QUICKUSDT) opened at $0.01792 on 12:00 ET-1 and reached a high of $0.01978 by 03:45 ET before closing at $0.01803 at 12:00 ET today. The 24-hour period recorded a total volume of 67,379,365.0 and a notional turnover of $1,173,688.78. The price action reflects heightened volatility, especially in the early hours of today, suggesting increased market participation and interest.

Structure & Formations

The price of QUICKUSDT broke above a key resistance level at $0.01850 and formed a bullish engulfing pattern by the end of the session. A significant high of $0.01978 at 03:45 ET marks a new short-term resistance. A critical support level appears to be holding at $0.0178–$0.0179, with a potential consolidation forming around this range. The structure suggests a possible continuation of the upward trend if the breakout is confirmed.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bullish crossover, reinforcing the recent upward bias. The 50-period line is now below the current price, suggesting a positive trend. On the daily chart, the 50 and 200-day moving averages are converging, indicating a potential shift in long-term momentum toward the upside.

MACD & RSI

The MACD is positive and rising, with a healthy histogram suggesting sustained momentum. RSI stands at ~62, indicating the market is neither overbought nor oversold. However, the RSI divergence in the early hours of today suggests a retest of the $0.0180–$0.0181 range may occur in the next 24 hours.

Bollinger Bands

Price action has expanded significantly beyond the upper band during the volatility spike at 03:45 ET, signaling a breakout. The bands are now wider than average, reflecting increased volatility. The current close of $0.01803 resides within the upper half of the bands, suggesting continued bullish pressure.

Volume & Turnover

Volume spiked dramatically at 03:45 ET with a turnover of $5,473,469.42, far exceeding the average for the session. The price and volume moved in tandem during this phase, confirming the strength of the breakout. A volume divergence appears at the lower end of the session, suggesting weakening bearish pressure.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute chart, the 61.8% level of the recent upswing aligns with $0.01836, a critical level to watch for a potential pullback or consolidation. On the daily chart, the 38.2% level is at $0.0186, acting as a near-term resistance for any sustained rally.

Backtest Hypothesis

The “Bullish Engulfing – 3-day hold” strategy described in the provided module aligns with the pattern observed in today’s session. Given the confirmed bullish engulfing candle and the current alignment of volume and momentum indicators, applying this strategy to QUICKUSDT appears well-timed. The strategy assumes holding the trade for up to three days without additional stops, making it suitable for traders seeking short-term directional bias. The recent price behavior supports testing this approach on future engulfing signals for Quickswap/Tether.