Strong Decline in QUICK Crypto Price; What Could Be Coming Next?

• The market cap of the crypto has declined by 13.2% in the last 24 hours.
• The trading volume of the Quickswap crypto is flat.

QuickSwap is a Polygon-based AMM that offers low-cost and fast token swaps and liquidity provision. It uses $QUICK as its utility and governance token, rewarding liquidity providers and enabling community-led development. It also integrates with various DeFi and gaming projects on Polygon, expanding its use cases and ecosystem.

The market cap of the QuickSwap crypto has declined by 3.3% in the last 24 hours, resulting in a market cap of $30.961 Million. The current market cap ranking of the crypto is #637. The volume of the crypto has declined by 9.3%.

The volume/market cap ratio of the crypto is 12.49% and the circulating supply of the crypto is 607.00 Million QUICK. Additionally, the total supply of the crypto is 899.9 Million QUICK and the max supply of the crypto is 1.0 Billion QUICK.

Quickswap has a fully diluted market cap of $50.916 Million and the TVL of the crypto is $56.595 Million and the fully diluted valuation/TVL ratio of the crypto is 0.93.

QUICK Crypto Technical Analysis

The QUICK crypto price broke above the rising wedge pattern and led to certain highs but the price again fell from these highs. The QUICK crypto price is currently trading inside the wedge pattern and it is forming bearish candlesticks.

Following the bearish crossover of the 20-day and the 50-day EMA, the trading price of the QUICK crypto has declined below multiple crucial EMAs. This indicates the possibility of a strong downtrend in the price.

The MACD is also giving a sell signal on the charts as both the lines of the MACD are below the zero level following a bearish cross. The MACD also forms a bearish histogram on the charts.

Conclusion 

The QUICK crypto price is facing a strong decline and shows no signs of recovery. The technical indicators are negative and the volume is low. At the moment, QUICK is a poor and risky investment that could drop further. QUICK is losing its value and relevance in the Polygon ecosystem.

Technical Levels

Support Levels: $0.03900 USDT and $0.04500 USDT

Resistance levels:$0.06500 USDT and $0.07900 USDT

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.