QuarkChain (QKCUSDT) 24-Hour Market Overview

Summary
• Price closed at $0.007558, near the 38.2% Fibonacci retracement ($0.00755) after a 24-hour range of $0.007325–$0.007617.
• A bullish engulfing candle formed at $0.007583 (July 16 2:45 PM ET), but volume dropped 40% in the following bar, hinting at waning momentum.
• Bearish tailing candles near $0.00753 (July 16 9:00 AM ET) tested support, with price rebounding 0.6% off lows.

QuarkChain (QKCUSDT) closed at $0.007558 as of 12:00 ET today (July 16), down 1.0% from its 12:00 ET open of $0.007631. The 24-hour session saw a high of $0.007617 and a low of $0.007325, with total volume of 19,523,856 and turnover of $1,463,416 (sum of amount values).

Technical Analysis

Structure & Formations

Price repeatedly tested $0.00753–$0.00755 support, a zone where the 20-period SMA (Simple Moving Average) anchored buyers. Resistance at $0.0076 (July 16 high) held firm, with a 10% volume spike preceding the rejection. A bearish harami formed at $0.007582 (July 16 11:15 AM ET), though it was later invalidated by a bullish reversal. Fibonacci retracement levels from the $0.007325–$0.007617 swing show critical support at $0.00755 and resistance at $0.00759 (61.8%).

Moving Averages

The 20-period SMA ($0.00754) and 50-period SMA ($0.00752) converged, suggesting short-term consolidation. On the daily chart, price remains below the 50-day SMA ($0.00756), but the 200-day SMA ($0.00743) offers long-term support.

MACD & RSI

The MACD line crossed above the signal line at $0.00758, indicating bullish momentum, but the histogram’s contraction suggests weakening buying pressure. RSI (14) oscillated between 52 and 58, signaling neutral momentum with no overbought/oversold extremes.

Bollinger Bands

Price hugged the upper band ($0.00761) during the $0.0076 surge, but a 20% volume drop afterward caused contraction. The recent close sits near the middle band ($0.00756), hinting at a potential mean reversion.

Volume & Turnover

Total volume surged to 1.95 million units, with the largest spike (2.4 million) coinciding with the $0.0076 high. Turnover peaked at $14.6 million, but a 30% divergence between price highs and turnover (July 16 10:45 AM ET) suggests profit-taking.

Fibonacci Retracements

A 38.2% retracement ($0.00755) halted the recent dip, while the 61.8% ($0.00759) level may cap near-term gains. A deeper retrace to $0.00752 (23.6%) could test the daily SMA cluster.

Forward Outlook

QuarkChain appears poised for a consolidation phase between $0.00753 and $0.0076, with the bullish engulfing candle at $0.007583 hinting at a potential rebound. However, the failure to sustain volume above $0.0076 raises risks of a retest of $0.0075’s support. Investors should monitor RSI divergence and 20-period SMA ($0.00754) holds for directional clarity. A break below $0.0075 could expose the $0.00743 long-term support, while a close above $0.0076 would target $0.00765 resistance.

Risk caveat: Volatility remains elevated; price swings of ±3% are possible in the next 24 hours.