QNTBTC Market Overview: 24-Hour Breakdown as of 2025-10-03

• QNTBTC opened at 0.0008847, reached 0.0009003, and closed at 0.0008800 by 12:00 ET.
• Price tested a key resistance at 0.0009003 but failed to hold above, reversing to test support at 0.0008796.
• Momentum shifted after 20:00 ET, with bearish volume surging as price fell to 0.0008640.
• RSI moved into oversold territory below 30 for the final 6 hours, signaling potential short-term bounce.
• Volatility was mixed, with low-volume consolidation at the end of the 24-hour window.

QNTBTC opened at 0.0008847 and reached a high of 0.0009003 before closing at 0.0008800 at 12:00 ET. Total volume traded was 190.245, while turnover stood at $167.601. The 24-hour session was marked by a sharp midday rally, followed by a prolonged bearish reversal in the late afternoon. Price tested both key resistance at 0.0009003 and support at 0.0008796, ending with a consolidation phase at the session close.

The structure of the 24-hour session showed two distinct phases: an early bullish attempt and a late bearish exhaustion. A key resistance at 0.0009003 was tested twice but failed to hold. A bearish engulfing pattern formed at 19:15 ET as price dropped from 0.0008988 to 0.000889, signaling a potential shift in sentiment. A doji appeared at 19:45 ET, reinforcing the indecision before a larger bearish candle closed the downward move.

Moving averages on the 15-minute chart showed a crossover between the 20 and 50-period lines around 17:45 ET, confirming a shift in momentum to the bear side. The daily 50/100/200 SMA lines were not clearly visible due to the limited time frame but would typically provide key reference levels for continuation or reversal setups. Price closed below all moving averages for the 15-minute timeframe, reinforcing a near-term bearish tilt.

MACD showed a bearish crossover at 18:00 ET, with the histogram expanding during the downward move. RSI entered oversold territory below 30 for the final 6 hours, which could indicate a short-term bounce from 0.0008640. Bollinger Bands reflected a contraction in the early hours, followed by a sharp expansion as the price fell. Price settled near the lower band, suggesting a high-volatility bearish phase. The late consolidation at 0.0008800 suggests a potential near-term equilibrium point for traders to watch.

Volume spiked sharply between 19:15 and 20:30 ET, with the largest candle at 19:15 ET trading 7.362 units. Notional turnover followed a similar pattern but diverged slightly in the final hour, as price traded lower on diminishing volume. A divergence between price and turnover was observed in the final 90 minutes, with price dropping below 0.0008796 while volume remained muted. This could suggest a loss of selling pressure, hinting at a potential short-covering bounce.

Fibonacci retracements applied to the key high (0.0009003) and low (0.0008796) showed price tested 61.8% at 0.0008850 and closed near the 78.6% level at 0.0008796. A 38.2% retracement at 0.0008950 acted as a temporary support before price broke below. On the daily chart, the 61.8% retracement level from the recent high may act as a key psychological level for future support.

Backtest Hypothesis

The proposed backtesting strategy involves entering a short position at the close of the bearish engulfing candle at 19:15 ET, with a stop above the 0.0008988 high and a target at the 61.8% Fibonacci level at 0.0008796. The strategy relies on confirmation through MACD divergence and a bearish crossover on the 15-minute timeframe. Given the RSI’s oversold reading and the late consolidation phase, an alternative long entry at 0.0008640 could be considered with a tight stop below 0.0008630. The 20-period EMA may serve as a dynamic support line in the next 24 hours.