Quickswap/Tether Market Overview: 24-Hour Technical Summary

Summary
• Price declined from $0.01851 to $0.01763 amid high-volume bearish momentum.
• Key support tested at $0.0176 level following a 1.8% intraday drop.
• Volatility surged post-18:00 ET, with 15-minute candles showing bearish engulfing patterns.

Market Movement and Initial Metrics

Quickswap/Tether (QUICKUSDT) opened at $0.01766 on 2025-11-07 at 12:00 ET and reached a high of $0.01852 before closing at $0.01763 on 2025-11-08 at 12:00 ET. The 24-hour low of $0.01757 signaled bearish continuation. Total volume amounted to 12,628,092.0 and turnover reached $226,191.76.

Structure & Formations

The 15-minute chart revealed a series of bearish engulfing patterns after 18:00 ET and a long lower shadow at 03:00 ET, suggesting indecision and potential reversal attempts. A key support level appears to have formed around $0.0176, while resistance remains near $0.01815. A doji near $0.01805 also signals a potential pause in the bearish trend.

Moving Averages and Momentum

Short-term moving averages (20/50) on the 15-minute chart suggest a bearish bias as price action remained below the 50-period line. Daily moving averages (50/100/200) have not yet been included in this analysis, but the current trend suggests price could continue to test longer-term averages for confirmation of a deeper correction.

Bollinger Bands and Volatility

Volatility expanded significantly between 18:00 and 21:00 ET, as price broke out of the lower Bollinger Band. Current price action resides just above the 1σ level, indicating moderate volatility. A further contraction in band width may signal consolidation ahead.

Volume and Turnover Divergences

Volumes spiked between 19:00 and 20:30 ET, with turnover reaching a peak of $22,770.03. However, volume did not confirm the downward break from $0.0184 to $0.0176, suggesting potential bearish exhaustion. A divergence between price and volume could foreshadow a reversal or a sideways consolidation phase.

Fibonacci Retracements and Price Reactions

Fibonacci levels indicate that the $0.01763 close is near the 61.8% retracement of the recent bullish swing. The 38.2% and 50% levels are at $0.0179 and $0.0181, respectively. The 50% level appears to have acted as a psychological barrier, with price failing to break through during the last 6 hours.

MACD and RSI Indicators

The RSI dipped below 30, suggesting oversold conditions for a brief period, but failed to trigger a strong bullish bounce. MACD remained in negative territory, with the histogram showing bearish divergence. A potential MACD crossover could signal a bearish continuation or a short-term reversal, depending on volume confirmation.

Backtest Hypothesis

To model a potential trading approach, one might consider using MACD-based signals (golden/death cross) for entries and exits on QUICKUSDT. A backtest would require accurate historical data for QUICKUSDT—ideally from a supported exchange such as Binance or KuCoin—covering the full OHLCV dataset used in this report. If data availability is confirmed, we can proceed to simulate entry/exit triggers and assess performance metrics such as win rate, Sharpe ratio, and maximum drawdown for the 15-minute timeframe.