QUICKUSDT Market Overview: Volatile 24-Hour Move Fails to Hold Gains

Summary
• Price surged from $0.0164 to $0.0167 but retreated to close near $0.0165.
• Volume spiked to over 5 million at 02:30 ET, confirming intraday strength.
• Momentum slowed in the final hours, with bearish divergence in RSI and closing below key resistance.

The Quickswap/Tether pair (QUICKUSDT) opened at $0.01644 on 2025-11-05 at 12:00 ET and surged to a high of $0.01671 before retracing to a low of $0.01633. By 12:00 ET on 2025-11-06, the price settled at $0.01653. Total volume reached 11,243,243 units, with notional turnover amounting to $182,403, signaling high liquidity and active trading.

Structure & Formations
QUICKUSDT demonstrated a classic bearish reversal pattern as the price broke above $0.01665 but failed to hold it, with a long upper shadow forming on the 24-hour chart. A bearish engulfing pattern appeared around 03:30 ET on the 15-minute chart, hinting at a potential near-term reversal. Key support levels are at $0.01652 and $0.01646, with resistance forming near $0.01664 and $0.01671.

Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages crossed around $0.01656 at 05:00 ET, signaling a bullish crossover that failed to hold. On the daily chart, the 50-period MA is at $0.01648 and the 200-period MA at $0.01638, indicating the price remains above its long-term average and could still face upward pressure if buyers return.

MACD & RSI
Momentum, as measured by the MACD, peaked at 02:45 ET before turning negative, aligning with price consolidation. The RSI hit overbought territory (above 70) at $0.01671 but has since fallen below 50, suggesting a potential shift in sentiment toward the bearish side. A bearish divergence is forming as price highs and RSI highs fail to align, indicating weakening momentum.

Bollinger Bands
Volatility expanded from $0.01635 to $0.01671 during the day, with the price oscillating near the upper band before retreating toward the midline. A contraction in band width was observed overnight, suggesting a potential breakout scenario if buyers or sellers take control. The current price sits at 0.45 standard deviations above the 20-period moving average, indicating a neutral to slightly bullish setup.

Volume & Turnover
Volume spiked at 02:30 ET with a massive 5,633,611 units traded, coinciding with a sharp upward move to $0.01666. Notional turnover increased correspondingly, confirming strength in the rally. However, volume and turnover waned after 05:00 ET, suggesting a lack of follow-through. A bearish divergence is present as price peaks higher but volume declines, signaling potential exhaustion in the upside.

Fibonacci Retracements
From the low of $0.01633 to the high of $0.01671, the 61.8% retracement level aligns at $0.01653, where the price has closed today. This suggests a key level of interest for both buyers and sellers. The 38.2% level at $0.01658 is also a critical psychological threshold, where a breakout could signal resumption of the bullish trend.

Backtest Hypothesis
Given the appearance of multiple bearish engulfing patterns during the 24-hour period, particularly at 03:30 ET and 05:15 ET, a backtest strategy focusing on such signals could be evaluated. A hypothetical trade entry at the open of the following 15-minute candle after each bearish engulfing pattern, with a target to exit five trading days later, could provide insights into the pattern’s predictive value. This would align with the observed weakening momentum and bearish divergence in RSI, offering a data-driven approach to assess the short-term bearish potential of QUICKUSDT in similar price environments.