Quickswap/Tether Market Overview - 2025-10-04

• Price declined from 0.02525 to 0.02376 with a 6.3% drawdown, suggesting bearish bias.
• RSI near oversold territory indicates potential for a near-term bounce.
• Volume surged during key sell-offs but failed to confirm price stability.
• Bollinger Bands show low volatility at the end of the period, signaling possible consolidation.
• A 61.8% Fibonacci retracement aligns with 0.02425, a potential short-term support zone.

QUICKUSDT opened at 0.02453 on 2025-10-03 at 12:00 ET and closed at 0.02387 on 2025-10-04 at 12:00 ET, hitting a high of 0.02525 and a low of 0.02376 over the 24-hour period. Total volume amounted to 64,222,630.0, with a notional turnover of approximately $1,588,718 (assuming 1 USDT = $1). The pair experienced a bearish shift with a clear trend downward.

Structure & Formations

Price action displayed several notable candlestick patterns, including a bearish engulfing pattern around 2025-10-03 at 20:00 ET and a hanging man at 2025-10-04 at 00:30 ET. A key resistance level is observed at 0.02485, where the price failed to hold on multiple attempts, and a significant support level appears at 0.02419, with several bounces observed. A potential double bottom pattern is forming near 0.02376, which may provide a bullish signal if confirmed.

Moving Averages

The 15-minute chart shows a bearish crossover between the 20 and 50-period moving averages, reinforcing the downward momentum. On the daily chart, the 50-period MA is below both the 100 and 200-period lines, indicating a medium-term bearish bias. This alignment suggests that further support tests may occur as the short-term averages continue to drag the price down.

MACD & RSI

The MACD line crossed below the signal line at the end of the 24-hour period, signaling weakening bullish momentum. The RSI dropped to 30, entering oversold territory, suggesting a potential near-term rebound. However, without a corresponding volume increase, a breakout may not be confirmed. The divergence between RSI and price in the last two hours suggests caution for short-term traders.

Bollinger Bands

Volatility contracted significantly toward the end of the 24-hour period, with the bands narrowing and price consolidating near the midline. This suggests a potential breakout is imminent, though the direction remains uncertain. If price breaks above the upper band, it could indicate a temporary bounce, while a break below the lower band would reinforce bearish sentiment.

Volume & Turnover

Volume spiked during the key sell-off from 0.02525 to 0.02392, particularly between 2025-10-03 19:45 and 2025-10-04 00:30 ET. However, the price failed to stabilize after these spikes, indicating that sellers were still dominant. Notional turnover was relatively high during these sell-offs, but the lack of follow-through buying suggests that the bearish momentum may continue unless a strong bullish catalyst appears.

Fibonacci Retracements

Fibonacci levels show 38.2% at 0.02436 and 61.8% at 0.02425 during recent 15-minute swings, with the latter serving as a strong support area. The daily swing retracement also places 61.8% at 0.02419, aligning with observed support levels. A close above 0.02425 could initiate a short-term reversal, while a breakdown below 0.02376 would extend the current bearish trend.

Backtest Hypothesis

A backtesting strategy based on a 50-period EMA crossover on the 15-minute chart could provide an entry signal when the shorter EMA crosses below the longer, as seen in the 2025-10-03 20:00 ET candle. This aligns with the bearish momentum observed in the MACD and RSI. Exit signals could be placed at key Fibonacci levels, such as 0.02425 and 0.02419, for risk management. This approach would likely require trailing stops below recent lows to lock in gains while allowing for potential bounces.