QuarkChain/Tether (QKCUSDT) Market Overview: Volatile Move with Clear Support and Divergent Momentum

• QuarkChain/Tether (QKCUSDT) opened at $0.005552 and closed at $0.005468, declining 1.51% over the 24-hour period.
• Price action showed a volatile swing to a high of $0.005821, followed by a pullback that tested $0.005460 as a key support level.
• The move saw mixed volume patterns—spikes during consolidation and divergence during sharp selloffs.
• RSI hit overbought territory early, but failed to confirm strength, suggesting bearish momentum may dominate ahead.

QuarkChain/Tether (QKCUSDT) opened at $0.005552 on October 13 at 12:00 ET and closed at $0.005468 the following day. The pair reached an intraday high of $0.005821 and fell to a low of $0.005400. Total traded volume over the 24-hour period was 10,058,192, with a notional turnover of $52,062. The price action suggests a volatile and choppy session, marked by sharp intraday swings and divergent momentum indicators.

Structure & Formations

Price action formed multiple bearish signals, including a potential Dark Cloud Cover pattern near the October 13 high and a series of lower highs and lower lows after the 20:00 ET session. Key support levels at $0.005460 and $0.005415 appeared to absorb downward pressure during the selloff, though the 61.8% Fibonacci retracement at $0.005425 failed to hold. A bearish engulfing pattern formed at the peak, suggesting a possible continuation of the downward trend ahead.

Moving Averages

On the 15-minute chart, price closed below both the 20-EMA and 50-EMA, reinforcing the bearish bias. On the daily chart, the 50- and 100-day moving averages have been converging, suggesting potential for a cross that could signal a shift in sentiment. The 200-day SMA remains well above current price levels, indicating that the broader trend remains bearish for now.

MACD & RSI

The MACD line moved into negative territory by the end of the session, with a bearish crossover occurring after the early afternoon rally. The histogram expanded during the sell-off phase, highlighting increased bearish momentum. The RSI peaked at overbought levels (above 65) but failed to confirm strength with follow-through volume, suggesting a lack of conviction in the bullish breakout. By the close, RSI had fallen below 50, aligning with the weak close.

Bollinger Bands

Price tested the upper Bollinger Band during the morning surge to $0.005821 and then collapsed below the lower band after 20:00 ET. The volatility expansion observed during the peak suggests a period of heightened risk and speculative buying. The current close sits near the lower band again, indicating a possible continuation of the bearish trend unless buyers step in at the support levels.

Volume & Turnover

Volume surged during the initial rally and again during the sharp selloff after 20:00 ET, with total volume surpassing 2.8 million during the key bearish break. Turnover increased significantly during the same periods, confirming the move. Divergences occurred when price rose on declining volume during the morning, suggesting bearish pressure. The afternoon sell-off was confirmed by a large increase in both volume and turnover.

Fibonacci Retracements

Applying Fibonacci levels to the most recent 15-minute swing from $0.005821 to $0.005400, the 38.2% retracement at $0.005658 held briefly before price resumed the decline. The 61.8% retracement at $0.005525 also failed to hold, reinforcing the bearish bias. Looking at the daily chart, the 61.8% retracement of the larger swing appears to align with the support at $0.005460, which will be a key area to watch for a potential bounce or breakdown.

Backtest Hypothesis

To better understand the potential impact of bearish reversal patterns, such as the Dark Cloud Cover, we propose a backtest strategy based on event-driven signals. Given the current volatility and potential for further downside, we are seeking input on historical occurrences of the DCC pattern for QKCUSDT since 2022. With the pattern-detection endpoint unavailable, we recommend either manually providing specific DCC dates or specifying a secondary source for OHLC data, such as Binance or OKX. Once this data is available, we can assess the pattern’s predictive value and refine our entry and exit rules accordingly.