Considering the impact of our Major Trendline in Dip black, it shown QI still trading in serious downtrend zone. Price need to flip this Trendline to regain bullish momentum.
If price continue to drop from the current zone our area of interest level will be a great place to loads some buying bags.
Qi has been inside this channel for close to 1 year now. If we can remain above the $0.00850 level this week and next, and close above the channels resistance line, then some decent bullish action could ensue.
QIUSDT has just touched its all time low for the 2nd time, setting us up with a potential double bottom. If Bitcoin holds steady and QIUSDT can hold support at 850 - 860 sats we could see a decent bounce from here.
Qi is approaching its static support and the end of wave a,b,c has reached the oversold range in rsi , in cace of pollback to the specified range or little higher , can enter into a purchase transaction.
Use stop loss as btc seems unstable, qi needs a confirmation for quick pump, same as what bond, btst and many other alts did, extremely devalued coin, its a good project though!
You can check the waves its extremely dumped
QI/USDT recently broke out of its month-long range, with strong volume. QI is now sitting at a bull flag and a new trendline in the 1H, that can strengthen the new uptrend. RSI is not looking ideal, as there is a bearish divergence, but it is not confirmed yet. 9-EMA is bullish.
QI can continue rising higher if it breaks 0.218(green line in chart).
"BENQI is a decentralized non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers are able to borrow in an over-collateralized manner." coingecko