QUICK trades at $0.02386, up 3.1%, nearing resistance at $0.0241 within a long-term descending channel.
Price remains range-bound between $0.023 support and $0.0241 resistance with a potential breakout target of 8.8%.
Current movement marks another attempt to exit a multi-month downtrend, following repeated resistance tests since May.
Quickswap (QUICK) showed signs of renewed momentum on Friday as its price moved higher within a descending channel. The digital asset is currently trading at $0.02386, reflecting a 3.1% increase in the last 24 hours. QUICK now approaches the resistance level of $0.0241 after rebounding from support near $0.023. The chart suggests the price may be challenging the upper boundary of the multi-month downward channel formed since early 2023.
Price Movement Signals Testing of Resistance
Friday’s upward movement placed QUICK at the top range of its current trading channel. After several failed attempts throughout May, the asset now tests this resistance line again. While price remains within the descending structure, the latest move may mark an early attempt to break out of the pattern.
https://twitter.com/WorldOfCharts1/status/1931213406889021476
The price has maintained a gradual upward trajectory in June, with volume appearing stable compared to earlier sell-offs. The channel's support line around $0.023 continues to hold, which has allowed the price to build a short-term base. Traders are now closely watching the $0.0241 resistance, which aligns with the upper trendline and represents a critical point for any breakout.
Tight Range Signals Possible 8.8% Breakout
Over the past 24 hours, QUICK has traded within a narrow range between $0.023 and $0.024, showing reduced volatility compared to earlier this year’s broader decline. With the price now hovering near the top of that range, a move above $0.0241 could attract short-term interest from traders watching for a breakout.A measured move based on the chart setup points to a potential gain of approximately 8.8%, if the price escapes the channel.
QUICK Price Stalls at Crucial Decision Zone
With QUICK's price pressing against a long-standing resistance, current levels may act as a decision point. The short-term trend has shifted, yet the overall trend shows prices dropping for a longer period. If price moves above the $0.0241 mark, some traders may review their short-term plans. As long as there is no confirmation of a breakout, QUICK stays within its range and follows its set support and resistance levels.
The post Quickswap Gains 3.1%, Eyes $0.0241 Resistance After Bounce From Channel Support appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
