As of January 9, 2025, QuarkChain (QKC) is trading at approximately $0.01076 against Tether (USDT).
Recent Technical Analysis:
- 15-Minute Timeframe: The Moving Average Convergence Divergence (MACD) has crossed below its signal line, indicating potential bearish momentum. Additionally, a Doji candlestick pattern has formed, suggesting market indecision.
- 1-Hour Timeframe: The price has broken above the resistance of a descending channel, signaling a potential bullish reversal. However, a bearish crossover with the 100-period Adaptive Moving Average (AMA) has also been observed, indicating mixed signals.
- Daily Timeframe: The price is approaching the resistance of a triangle pattern, which may act as a barrier to further upward movement. A bullish price crossover with the 20-day Moving Average has occurred, suggesting potential upward momentum. However, a bearish crossover between the 20-day and 50-day AMAs indicates caution.
Trade Signal:
- Entry Point: Consider entering a position if the price breaks above the triangle resistance on the daily timeframe, confirming bullish momentum.
- Targets:
- Target 1: $0.0115
- Target 2: $0.0120
- Stop Loss: Set a stop loss below the recent swing low to manage potential downside risk.
Pro Tip: Monitor trading volumes and broader market trends to confirm the breakout. Given the mixed signals across different timeframes, exercise caution and consider waiting for a clear breakout before entering a trade.
Disclaimer: Cryptocurrency trading involves significant risk. Conduct thorough research and consider your risk tolerance before making any trading decisions.
