Qtum/Tether Market Overview for 2025-11-05

Summary
• QTUMUSDT opened at 1.736 and closed at 1.761, with a 24-hour high of 1.758 and a low of 1.593.
• A large bearish engulfing candle on 2025-11-04 18:30 indicated significant downward momentum, followed by a gradual rebound.
• High volume of 59,841.7 at 20:30 ET confirmed a key intraday low and a potential support level near 1.593.

Qtum/Tether (QTUMUSDT) opened the 24-hour period at 1.736, reached a high of 1.758, a low of 1.593, and closed at 1.761. Total volume reached 196,981 and total turnover amounted to approximately 334,964 USD, indicating heightened market activity and volatility.

On the 15-minute chart, QTUMUSDT formed a bearish engulfing pattern at 18:30 ET on 2025-11-04, which confirmed a sharp bearish reversal from 1.692 to 1.644. This was followed by a period of consolidation and a slow recovery, with bulls reclaiming control around 04:00 ET on 2025-11-05. A doji candle formed at 03:45 ET, suggesting indecision between buyers and sellers at that point in time.

The 20-period and 50-period moving averages on the 15-minute chart have shown a narrowing spread, indicating a possible consolidation phase. On the daily chart, the 50-period SMA is above the 100- and 200-period SMAs, suggesting a longer-term bullish trend. However, the recent intraday volatility may delay a clear breakout.

The RSI-14 appears to have dipped into oversold territory (below 30) during the low at 1.593, providing a possible signal for short-term buyers. The MACD histogram showed bearish divergence during the downward leg but flipped to positive territory during the rebound, confirming bullish momentum. Bollinger Bands displayed a period of contraction from 03:00 to 06:00 ET, followed by an expansion as price moved toward the upper band, indicating renewed volatility and strength.

Fibonacci retracement levels applied to the swing from 1.736 to 1.593 indicate key levels at 1.637 (38.2%), 1.617 (50%), and 1.600 (61.8%). Price has bounced off the 50% level, suggesting a possible continuation of the upward move. However, a retest of 1.617 may be needed for confirmation of a full breakout.

Backtest Hypothesis
A backtesting strategy for QTUMUSDT would likely rely on RSI-14 and MACD signals to identify overbought and oversold conditions and confirm trend strength. Given the recent price action and indicator behavior, a potential strategy could involve entering long positions when the RSI crosses above 30 and the MACD turns positive, with stop-loss placed near the 1.600 Fibonacci level. However, the absence of the RSI-14 data for the 24-hour period means that signal generation and performance metrics cannot currently be validated. To proceed, either an alternate data source (e.g., KuCoin or Bybit) must be used, or a local RSI calculation can be applied using the available OHLCV data.