$QI surged and then pulled back 10 points? Don’t panic—the 4-hour chart has already turned green, and doubled volume suggests buyers are stepping in.
The daily chart is down 10.64%, which looks scary. But take a look at the 4-hour chart: $QI is actually up 0.51%, opening at 0.002934 and closing at 0.002949. It hit a high of 0.00299 and a low of 0.002899—hardly a collapse.
The key is volume: over the last four hours, volume in the final two hours was 110.57% higher than in the first two. The price is consolidating near the lows, but volume has doubled. That kind of turnover doesn’t look like nobody wants the asset.
The 15-minute chart is also holding steady. The last four hourly candlesticks closed at 0.002955, 0.002951, 0.002935, and 0.002949. The price dipped to 0.002926 and was immediately bought back up, with buyers repeatedly stepping in around 0.002936.
The price is now hovering right around the key level of 0.002944, with resistance at 0.00299 and support at 0.002899.
My take: this is a shakeout after the surge, not a trend reversal. As long as it stays above 0.002899, the short-term bullish case remains intact. The first target is a retest of 0.00299.
Don’t let that red daily candle scare you out—the price action and volume have already sent a signal.
$QI
The daily chart is down 10.64%, which looks scary. But take a look at the 4-hour chart: $QI is actually up 0.51%, opening at 0.002934 and closing at 0.002949. It hit a high of 0.00299 and a low of 0.002899—hardly a collapse.
The key is volume: over the last four hours, volume in the final two hours was 110.57% higher than in the first two. The price is consolidating near the lows, but volume has doubled. That kind of turnover doesn’t look like nobody wants the asset.
The 15-minute chart is also holding steady. The last four hourly candlesticks closed at 0.002955, 0.002951, 0.002935, and 0.002949. The price dipped to 0.002926 and was immediately bought back up, with buyers repeatedly stepping in around 0.002936.
The price is now hovering right around the key level of 0.002944, with resistance at 0.00299 and support at 0.002899.
My take: this is a shakeout after the surge, not a trend reversal. As long as it stays above 0.002899, the short-term bullish case remains intact. The first target is a retest of 0.00299.
Don’t let that red daily candle scare you out—the price action and volume have already sent a signal.
$QI