Altcoin

Polygon-based QuickSwap’s QUICK Soars 41% in 24 Hours – Everything You Need to Know

Published

1 year ago

September 6, 2024

DCS Team

Credit : ambcrypto.com

QUICK token noticed demand revive after August lows, confirming the return of the bulls
The most recent rally confirmed the return of the bulls to the altcoin market

QUICK, the native token for QuickSwap, a prime DEX on Polygon, is making waves within the crypto marketplace for its efficiency. The token has been shifting increased this month, with a considerably massive transfer up to now 24 hours.

In truth, QUICK was the most effective performing cryptos in current weeks. It bounced again as a lot as 103% from its lowest worth degree to its August peak, exhibiting robust momentum. Though the index retreated in the direction of the tip of August, the financial institution nonetheless managed to finish the month with a 46% premium to the month-to-month low.

QUCK maintained this bullish momentum within the month of September. The press time worth of $0.043 had already risen greater than 38% up to now six days. Its efficiency over the previous 24 hours has been significantly notable, as the worth rose as a lot as 41% from the day’s low to a excessive of $0.052.

Supply: TradingView

Furthermore, QUICK has been buying and selling in a declining worth channel since March.

Nonetheless, the ultimate optimistic is the primary main instance the place worth has challenged resistance and damaged above it. What this implies is that QUICK is on a restoration rally.

What’s Driving QUICK’s Worth Motion?

A evaluate of QUICK’s on-chain information about DeFiLlama confirmed that there have been no irregular adjustments.

For instance, TVL, quantity and liquidity remained inside regular parameters with no adjustments, suggesting that demand in DeFi could also be liable for QUICK’s newest rally.

Supply: DeFiLlama

Based mostly on the above info, it appeared that QUICK’s current improve could possibly be a results of natural demand.

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The excessive low cost provided patrons the chance to accumulate the token at engaging ranges. QUICK bears appeared to lack momentum after the worth bottomed in August and subsequently introduced a chance for the bulls to take over.

Worth prediction

QUICK’s newest rally is already attracting loads of consideration. This will enhance bullish momentum if it will probably entice sufficient liquidity to create extra upside potential. If this occurs, merchants ought to anticipate the worth to rise to $0.057 earlier than encountering the following resistance zone.

The $0.057 worth degree signifies that QUICK would rise by round 35% from present ranges. The very best goal for now would in all probability be the earlier ATH of $0.125. Reaching this could symbolize a 191% improve over press time ranges.