Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-07-09 10:48:07

QTUM Technical Analysis: Will QTUM Beat Sellers At $3 To Jump 15%?

QTUM price shows a double bottom pattern preparing to launch a rally in market prices with a bullish breakout to reach the $3.6 mark. Key technical points: QTUM prices have jumped by 4.70% in the last 24 hours. The double bottom pattern forms a neckline at the $3.15 mark. The 24-hour trading volume of QTUM is $85 Million, indicating a rise of 70%. Past Performance of QTUM The QTUM price sustained above $2.60 to weaken the bearish momentum, forming a consolidation range between $2.60 and $3.16. Moreover, the increased bullish influence of the recovering market results in the formation of a double bottom pattern. The overhead resistance of the consolidation range at $3.16 acts as the neckline of the double bottom pattern. Source- Tradingview QTUM Technical Analysis The QTUM price action shows a higher price election in the daily candle from $3.16, displaying an attempt to undermine the bullish breakout. Hence, traders hoping to write the breakout rally must wait for the price action confirmation to avoid a reversal trap. The MACD indicator shows a drastic increase in the fast and slow lines after beginning the bullish alignment and preparing to enter the positive territory. Moreover, the increasing intensity of the positive histograms reflects an increase in the buying pressure. The RSI indicator shows a drastic bullish divergence in the double bottom pattern, increasing the likelihood of a bullish breakout. Moreover, the RSI sl...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.