- QUICK token saw demand resurgence after bottoming out in August, confirming the return of the bulls
- Latest rally confirmed the bulls’ return to the altcoin’s market
As a seasoned researcher with years of experience in the cryptosphere, I must admit that the resurgence of QUICK has caught my attention. After witnessing its dramatic downturn in August, I had written it off as another casualty of the bear market. However, the recent rally has been nothing short of impressive.
Recently, the QUICK token, which is associated with QuickSwap – a well-known decentralized exchange on the Polygon network – has been generating a lot of buzz in the crypto market due to its impressive performance. This month alone, the token has experienced a noteworthy upward trend, and an even more substantial surge was observed within the past 24 hours.
Over the past few weeks, I’ve been quite pleased with my investment in QUICK crypto. It surged an impressive 103%, climbing from its lowest point to its peak in August, demonstrating remarkable momentum. Granted, it experienced a slight dip towards the end of August, but even then, it managed to wrap up the month with a robust 46% gain over its lowest price for the month.
In September, QUCK continued its strong upward trend. At the current moment, its price stands at around $0.043, which is over 38% higher than it was six days ago. The past 24 hours have been especially impressive, with QUCK surging as high as 41% from its daily low to a peak of $0.052.
Furthermore, QUICK has been trading in a descending price channel since March.
On the positive side, for the first time, the price has managed to surpass previous resistance levels, signifying that QUICK may be experiencing a rebound phase.
What is driving up QUICK’s price action?
An assessment of QUICK’s on-chain data on DeFiLlama revealed that there were no abnormal changes.
For example, TVL, volume, and liquidity remained within normal parameters with no changes, suggesting that demand in DeFi may be responsible for QUICK’s latest rally.
From what we’ve discussed earlier, it seems like QUICK’s recent growth could be due to genuine interest or demand.
The significant reduction in price offered an opportunity for purchasers to grab the token at attractive prices. After the price dropped significantly in August, it appeared that the quick sellers lost steam, providing an opening for the optimistic buyers to seize control.
Price prediction
The recent surge in QUICK is drawing significant interest, which could strengthen bullish trends further if sufficient liquidity is attracted to sustain the upward movement. If liquidity inflow continues, traders might witness a price increase potentially reaching $0.057 before encountering another resistance level.
At the $0.057 price point, QUICK could potentially surge by approximately 35% from its current value. Its potential peak for the moment might reach its previous all-time high (ATH) at $0.125. This jump would equate to a massive increase of around 191% from its present price.
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2024-09-06 16:07