$QI (BENQI) is trading at $0.00357 (≈ Rs1) and has seen a sharp dip of -9.62% in the last 24 hours — there is also increased bearish pressure in the Liquid Staking sector today.
The market sentiment is clearly bearish, with price moving below MA(7), MA(25), and MA(99) and the volume also not looking very encouraging. The ask side in the order book is dominating more (58.46%), confirming the selling pressure.
For support, $0.00352** (24h Low) is the immediate level; if that breaks, **$0.00350 could act as psychological support. On the resistance side, $0.00358–0.00359** is the first hurdle where MA(7) and MA(25) are located. After crossing that, a recovery up to **$0.00374 (MA-99) and then $0.00396 (24h High) can be considered.
In the short term, the downside risk is higher, but if buying comes in, a bounce up to $0.00364 is possible. The volume is low, so it's better to wait and watch for the breakout confirmation.
