Quickswap/Tether Market Overview – 2025-09-21

• Price declined from 0.0235 to 0.0230 over 24 hours, forming bearish momentum.
• Volume spiked during a key breakdown near 0.02321, confirming bearish bias.
• RSI dipped into oversold territory, suggesting possible near-term reversal.
• Bollinger Band contraction occurred early in the session, followed by expansion.
• MACD remained in negative territory, reflecting weak momentum for buyers.

The QUICKUSDT pair opened at 0.02346 at 12:00 ET–1 and closed at 0.02307 at 12:00 ET, with a high of 0.02359 and a low of 0.02294. Total volume reached 11.8 million tokens, with a turnover of approximately $279,000. The market displayed a clear bearish bias, with a breakdown in price and increased selling pressure late in the previous session.

Structure & Formations

The price action formed a bearish flag pattern following a sharp descent from 0.02359 to 0.02321. A key support level appears near 0.02303–0.02305, where a consolidation and potential bounce have occurred. A bearish engulfing pattern was visible around 0.02355–0.02347, reinforcing the downward momentum. A doji formed near 0.02333, indicating indecision and a potential short-term reversal.

Moving Averages

Short-term moving averages (20 and 50-period) on the 15-minute chart remained bearish, with the 50-period line below the 20-period, supporting the downward trend. On the daily chart, the 50/100/200-period lines show a bearish alignment, with the price currently below all three, reinforcing a continuation of the downtrend in the near term.

MACD & RSI

The MACD remained negative throughout the 24-hour period, with a bearish crossover confirming the downward bias. RSI dipped into oversold territory near 28, suggesting possible near-term buying interest, though a strong rebound is unlikely without increased volume and price confirmation. The combination of weak momentum and oversold conditions may set the stage for a temporary bounce before resuming the downtrend.

Bollinger Bands

Bollinger Bands initially showed a contraction between 0.0233 and 0.0235, followed by a sharp expansion as the price moved lower. The current price action sits near the lower band at 0.0230–0.0231, indicating heightened volatility and increased bearish pressure. A prolonged stay near the band bottom may trigger a bounce or a breakout to lower levels.

Volume & Turnover

Volume and turnover spiked during a key breakdown near 0.02321, confirming the bearish bias. The volume profile remained generally strong during the descent, with several spikes above average. A divergence appears between price and turnover near 0.02333, suggesting potential exhaustion in the sell-side. A follow-through increase in volume during a reversal could confirm a short-term bottom.

Fibonacci Retracements

Key Fibonacci retracement levels for the recent 15-minute swing from 0.02359 to 0.02321 include 0.02345 (38.2%) and 0.02337 (61.8%). The 61.8% level appears to have acted as resistance, confirming bearish continuation. On the daily chart, the 61.8% retracement of the larger move from 0.02359 to 0.02294 sits near 0.02327, which could provide short-term support or resistance.

Backtest Hypothesis

A potential backtest strategy involves entering short positions at confirmed breakdown levels (e.g., 0.02321 or 0.02305) with tight stop-loss orders above key resistance. A target for the first leg of the move could be set at 0.02294, with a second target at 0.02285 using the 61.8% Fibonacci extension. This strategy aligns with the bearish engulfing patterns and the oversold RSI divergence, aiming to capture continuation after a consolidation or bounce from key support.