QuickSwap (QUICK) Token Surges 41% Amid Burning Frenzy and Bullish Momentum
QUICK +10.96%
QUICK is the native governance token of QuickSwap, a decentralized exchange (DEX) built on the Polygon blockchain. It recently experienced a significant price surge of 41% within 24 hours, marking a strong recovery after bottoming out in August 2024.
#QUICK has seen renewed demand driven by multiple factors, including aggressive token burning initiatives that have removed approximately $340,000 worth of QUICK tokens from circulation. This deflationary mechanism has helped tighten supply, while the broader bullish sentiment in the Polygon ecosystem has contributed to increased trading volumes and staking activity.
Given the current momentum supported by token burns and growing user engagement, QUICK’s price is likely to continue its upward trajectory in the short term. However, traders should watch for potential profit-taking after such a rapid rally. Overall, a cautious bullish outlook is warranted with prices expected to stabilize or rise moderately over the next few days.
Detailed technical indicators analysis for QUICK/USDT:USDT
QUICK/USDT:USDT – Score: 8, Price: 0.02007
Scalping Potential: Low, Confidence: Medium
⚫ Entry Rating: Poor, Best Timeframe: 15m
Bullish Signals: 4
Entry condition analysis
- RSI Zone: Fair entry zone
- Pullback: ❌ None
- Support Bounce: ✅ Strong
- Volume Pattern: ❌ Poor
- Risk/Reward: ❌ Poor
- Trend Change Signals: ❌ None
- Bullish Divergences: ❌ None
- Price Pattern: ✅ Retest
⚠️ Warning signals
- 🔴 Extreme Overbought RSI (High Risk, 1h): RSI is extremely overbought (80.85) on the 1h chart, high reversal risk
- 🟠 Volume Confirmation Missing (Medium Risk, 15m): Strong price movement without volume confirmation on 15m chart
- 🟠 Volume Confirmation Missing (Medium Risk, 1h): Strong price movement without volume confirmation on 1h chart
- 🟠 Resistance Proximity (Medium Risk, 15m): Price is near resistance without sufficient volume for breakout on 15m chart – Resistance at: 0.02006000 (0.05% away)
- 🟠 Resistance Proximity (Medium Risk, 1h): Price is near resistance without sufficient volume for breakout on 1h chart – Resistance at: 0.02022000 (0.75% away)
Timeframe analysis
— 15m Timeframe (Score: 5) —
- RSI: 66.28 (rising, neutral) – Bullish
- MACD: Histogram: 8.5054804353381E-5 – Bullish
- Moving Averages: Price Above Short MA: Yes – Bullish
- Volume: 0.30656448052588 above average – Neutral
- S/R: Near Support – Support
— 1h Timeframe (Score: 3) —
- RSI: 80.85 (rising, overbought) – Neutral
- MACD: Histogram: -0.00028755217898232 – Neutral
- Moving Averages: Price Above Short MA: Yes – Bullish
- Volume: 0.061413835769798 above average – Neutral
- S/R: Near Resistance – Resistance
