Market Overview: Quickswap/Tether (QUICKUSDT) – Volatility and Volume Define 24-Hour Move

• Price tested a key resistance at $0.0239, failed to break out, and retreated to a 24-hour low of $0.0234.
• RSI signaled overbought conditions at 78 and later oversold at 28, indicating volatile swings.
• Bollinger Bands widened midday, reflecting a surge in volatility driven by a massive 120,7912 volume candle.
• Volume spiked 3x average levels at 08:45 ET amid a sharp selloff to $0.0234.
• Fibonacci retracements identified potential support at 61.8% ($0.0235) and resistance near $0.0239.

Quickswap/Tether (QUICKUSDT) opened at $0.02359 on 2025-09-16 at 12:00 ET, reaching a high of $0.02412 and a low of $0.0234 before closing at $0.02354 on 2025-09-17 at 12:00 ET. Total volume reached 12,079,120 units, with notional turnover peaking at $0.02352 after a massive sell-off.

Structure & Formations

Price encountered resistance at $0.0239, a prior high, where it reversed on a bearish engulfing pattern. A doji formed at $0.02376, signaling indecision, and a strong rejection at $0.02391 was followed by a sharp drop to $0.0234. Support levels at $0.02353 and $0.02365 were tested twice, forming a potential base for near-term buyers.

Moving Averages

On the 15-minute chart, price spent time above the 20SMA but fell below the 50SMA in the final hours, indicating weakening momentum. The 50EMA on the daily chart crossed above the 100EMA, hinting at a possible bullish trend continuation if price stabilizes above $0.0235.

MACD & RSI

MACD crossed into bearish territory in late hours, with a shrinking histogram showing losing momentum. RSI peaked at 78, suggesting overbought conditions, and bottomed at 28, indicating oversold territory, which may attract short-covering and buying interest.

Bollinger Bands

Bollinger Bands expanded during the sell-off at 08:45 ET, with price dropping to the lower band at $0.0234—suggesting a high volatility breakout scenario. Price remained inside the bands for most of the session, showing that volatility was contained within defined levels.

Volume & Turnover

Volume surged to 12,079,120 during the 08:45 ET session as price fell sharply to $0.0234. This spike was accompanied by a drop in turnover, suggesting a possible divergence that may signal a weak bearish move. Turnover remained strong near the $0.0239 resistance, confirming its significance.

Fibonacci Retracements

On the 15-minute chart, price retraced 61.8% to $0.0235 from the high of $0.0239—offering a key support zone. On the daily chart, a 38.2% retracement at $0.0236 could act as a short-term floor, with a break below it likely targeting $0.0233.

Backtest Hypothesis

A potential backtest strategy could involve entering long on a bullish engulfing pattern forming above the 20SMA, with a stop-loss placed below the 50EMA. Given the recent RSI divergence and the Bollinger Band contraction, a breakout strategy at $0.0239 or a retest of $0.0235 using Fibonacci levels could be tested using 15-minute OHLC data.