QUICKUSDT - FALSE BREAKOUT OF RESISTANCESymbol - QUICKUSDT
CMP - 0.0290
QUICKUSDT is currently exhibiting a counter-trend move toward the resistance level within the range of 0.0295, A false breakdown of this key level has occurred amidst the prevailing downtrend.
The cryptocurrency market is undergoing a period of significant challenges. While Bitcoin is testing new lows around 77K, altcoins are continuing their downward trajectory in search of additional support levels. Notably, QUICKUSDT stands out by testing a strong resistance/liquidity zone between 0.0284 and 0.0295, where a false breakout is forming.
However, in the morning session, Bitcoin shows signs of strengthening after a substantial decline, potentially exerting upward pressure on the broader market. As such, prior to any further decline, there may be another attempt to retest the 0.0295 level or update the false breakout tail around 0.0300 (0.7 Fibonacci retracement)
Key resistance levels: 0.0285, 0.0295, 0.0300
Key support levels: 0.0243, 0.0211
Should the next resistance retest result in a false breakdown with price consolidation below 0.0295, QUICK coin could continue its decline in the short to medium term.
