QUICKUSDT Market Overview

• Price declined from 0.02034 to 0.01877 over 24 hours, with significant bearish momentum in overnight hours.
• Volume surged at 19:00 ET and 02:30 ET, confirming key breakdown levels and reinforcing bearish sentiment.
• RSI and MACD both signal overbought/oversold divergence, suggesting exhaustion and potential reversal.
• Bollinger Bands show contraction in midday and expansion overnight, highlighting volatility shifts.
• Fibonacci retracement levels at 0.01950 and 0.01995 may offer near-term support/resistance for short-term traders.

Quickswap/Tether (QUICKUSDT) opened at 0.01954 at 12:00 ET−1 and traded as high as 0.02034 before closing at 0.01877 by 12:00 ET. The 24-hour candle closed at a 0.69% loss, with a total volume of 11,432,357 and a notional turnover of $225,448. The price action shows a sharp bearish shift after 19:00 ET, with volume peaking at $43,707 during the 19:00–19:15 ET session.

Structure & Formations

The candlestick formation over the 24-hour period reveals a strong bearish bias, with a long lower wick during the overnight session indicating aggressive selling pressure. A notable bearish engulfing pattern formed at 02:30 ET as price broke below 0.01982 on heavy volume (3.5 million tokens), confirming a shift in sentiment. A small doji at 00:00 ET suggested indecision, but this was quickly negated by the strong bearish follow-through in subsequent candles. The 0.01950 and 0.01995 levels are key Fibonacci retracement levels that appear to be acting as dynamic support/resistance.

Support & Resistance Levels

Immediate support is now at 0.01950, with a potential stop-loss near 0.01920 if the trend continues. Resistance is likely to be found at 0.01995 and 0.02020 in the short term, which were recent swing highs. These levels are crucial for determining whether the bearish trend holds or if a short-covering rally could occur.

Moving Averages

On the 15-minute chart, the 20-EMA crossed below the 50-EMA during the overnight session, forming a death cross that reinforced the bearish narrative. The 50-EMA is currently at 0.01915 and is expected to play a critical role in the next 24 hours. On the daily chart, the 50/100/200 EMAs are aligned in a downward trend, with the price well below all three, suggesting continued bearish momentum unless a strong bullish reversal occurs.

MACD & RSI

The MACD line crossed below the signal line at 02:30 ET, confirming the bearish crossover. It remains in negative territory, with a bearish divergence forming in the histogram. The RSI has plunged below 30, indicating oversold conditions. However, the divergence between price and RSI suggests that the sell-off may not be entirely exhausted. A failure to break back above 40 may indicate further weakness.

Bollinger Bands

Volatility expanded overnight as the price moved sharply lower, with the 20-period Bollinger Bands widening to accommodate the move. The close at 0.01877 is now within the lower band, suggesting a high-risk trade environment. A pullback toward the 20-period SMA at 0.01930 could offer a short-term trading opportunity if the bands begin to contract again.

Volatility Indicators

The combination of high volume and wide Bollinger Bands indicates that volatility is at its peak. Traders should be cautious of whipsaws as the market may consolidate following the recent exhaustion move.

Volume & Turnover

Volume spiked dramatically during the 19:00–19:15 ET (4.1 million tokens) and the 02:30–02:45 ET (3.5 million tokens) periods. These spikes were accompanied by price declines, suggesting that large-scale liquidation is ongoing. Notional turnover also peaked during these sessions, with the largest amount ($43,707) occurring during the 19:00–19:15 ET candle. A divergence between volume and price could emerge if volume tapers off while price continues lower, signaling exhaustion.

Fibonacci Retracements

The most recent 15-minute swing high is at 0.02034, with the 38.2% Fibonacci level at 0.01995 and the 61.8% level at 0.01950. The price has already tested 0.01950, and a break below that level could trigger further moves toward 0.01920. Daily Fibonacci retracements from the 0.02034 high to the 0.01877 low show potential support at 0.01950 and 0.01995, consistent with the 15-minute structure.

Backtest Hypothesis

The Doji Star pattern is a potential reversal signal when formed during a strong trend. While automated data retrieval for QUICKUSDT has been unavailable, manual input of historical Doji Star appearances can still be used to backtest a one-day-holding strategy. A hypothetical backtest would look to enter long on a bullish Doji Star or short on a bearish Doji Star, with stops placed just beyond the formation's range and a one-day holding period. Given the recent bearish trend and the presence of an indecisive doji at 00:00 ET, a short position aligned with the Doji Star could be validated if the price continues to trend lower over the next 24 hours.