QUBIC and USTC Approach Key Resistance – Could Breakouts Spark a Rally?
Date: Wed, February 12, 2025 | 10:11 AM GMT
The cryptocurrency market remains under bearish pressure today as investors brace for the upcoming U.S. CPI and PPI data releases. However, despite the broader market caution, Qubic (QUBIC) and TerraClassicUSD (USTC) have posted impressive gains of 6% and 15% in the last 24 hours, bringing them to key resistance levels.
Source: Coinmarketcap
Qubic (QUBIC)
The daily chart for Qubic (QUBIC) reveals a consolidation within a descending triangle and a falling wedge pattern. The downtrend started on January 31 after a rejection at $0.0000022, leading to a sharp decline.
Qubic (QUBIC) Daily Chart/Coinsprobe (Source: Tradingview)
This downward move pushed QUBIC to a crucial support zone of $0.0000015, aligning with the lower boundary of the falling wedge. However, the price has stabilized and is now trading around $0.0000018. Historically, this level has provided strong support, suggesting a potential rebound.
Key Levels to Watch:
- Bullish Breakout: A move above the 25-day SMA could push QUBIC toward the $0.0000022 resistance, marking a potential 32% gain from current levels.
- Bearish Scenario: Failure to break out may lead to another retest of the $0.0000015 support zone.
TerraClassicUSD (USTC)
Like QUBIC, TerraClassicUSD (USTC) has been consolidating within a descending triangle. The recent downtrend began on December 2, following a rejection at the $0.032 resistance trendline.
TerraClassicUSD (USTC) Weekly Chart/Coinsprobe (Source: Tradingview)
This correction drove USTC down to a major support zone at $0.0085, where it has held firm. The price is now trading around $0.0186, an area that has historically triggered rebounds.
Key Levels to Watch:
- Bullish Breakout: A move above the 50-day SMA could see USTC retest the descending trendline. If a breakout occurs, the next target is $0.032.
- Bearish Scenario: Failure to break out could bring USTC back to test the $0.0085 support zone.
Final Thoughts
With both QUBIC and USTC approaching key resistance levels, traders should closely monitor breakout or breakdown signals. While the broader market remains bearish, these two assets are showing potential bullish setups.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
xAI issues public apology for Grok’s horrible behavior
Share link:In this post: xAI apologized after its Grok chatbot posted antisemitic and violent messages following a system update. The flawed update caused Grok to echo extremist user content for about 16 hours. xAI removed the deprecated code, refactored the system, and restored Grok’s public account.
US inflation rises for first time in 5 months as tariff costs ripple through economy
Share link:In this post: US core inflation rose by 0.3% in June, the biggest increase since January, as tariffs pushed up import costs. Retail sales stayed weak, but the Federal Reserve is not ready to cut interest rates due to ongoing inflation worries. Tariffs are raising global inflation concerns, and central banks in countries like Canada, Japan, and the UK are watching closely.
Elon Musk’s SpaceX agrees to invest $2 billion in xAI
Share link:In this post: SpaceX is investing $2 billion in xAI, nearly half of its $5 billion equity raise. Elon Musk merged xAI with X earlier this year, valuing the combined company at $113 billion. Grok 4 launched this week but faced backlash after posting offensive replies on X.
$117,000 Bitcoin: Just the Beginning of the Bull Run
Bitcoin hits $117,000 and shows no signs of slowing down—experts say this could be just the beginning.Bitcoin Breaks $117,000—And It’s Far from OverWhat’s Fueling the Climb?What’s Next for Bitcoin?
Trending news
MoreCrypto prices
More
