QuickSwap's token, QUICK, is traded primarily on the Polygon network but also depends on Ethereum through ERC-20 tokens. When trading QUICK/USDT, keeping an eye on both networks is essential, as congestion or high gas fees can impact transaction costs and trading outcomes.
Going Long:
Consider going long when both Ethereum and Polygon networks are stable, with low fees and high liquidity. If the broader crypto market shows bullish sentiment, particularly for Polygon (MATIC) and Ethereum, this can indicate potential upward momentum for QUICK.
Going Short:
Shorting QUICK becomes viable when there are signs of high network congestion or rising gas fees on Ethereum or Polygon. Additionally, bearish trends in Ethereum and Bitcoin often affect the altcoin market, making it an opportune time to consider shorting QUICK.
Lastly, keep an eye on Ethereum upgrades and Polygon network updates, as these developments may directly impact QUICK's price and the overall trading environment. #QUICK/USDT #ETHERUM #Polygon #matic #ERC20
