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

Cryptoknowmics 2022-07-23 07:18:09

QTUM Technical Analysis: Will This Range Breakout Cross $4?

The Quantum (QTUM) prices escape the consolidation range and beat the 50-day SMA, teasing an uptrend continuation to the $4 mark. Key Technical Points: The QTUM prices jumped by 5.58% today at press time. The market value of Quantum breaks above the 50-day SMA. The 24-hour trading volume of Quantum is $120 Million, indicating a hike of 10%. Past Performance of QTUM As mentioned in our previous analysis, the reversal from $2.59 breaking the 50-day SMA was the best time to buy QTUM. The daily technical chart shows the prices display a successful post-retest reversal from the 50-day SMA resulting in a 13% jump in the last 48 hours. In addition, the bullish reversal from the $2.59 support level accounts for a price jump of 44% in the previous two weeks. Source – Tradingview QTUM Technical Analysis The QTUM daily candle showcases a 5.5 % growth acting as the follow-through candle of the morning star pattern formed at the 50-day SMA. Hence, traders can expect the bullish trend to surpass the $3.6 resistance level and reach $4. The RSI and MACD indicators display an increase in buying pressure and maintain an optimistic outlook for the upcoming trend. The RSI line reverses to 50% to sustain in the nearly overbought zone and reaches the 70% boundary. Additionally, the MACD and signal lines maintain an uptrend in a bullish alignment above the zero line. Hence, the momentum indicators and the price action analysis go hand-in-hand and gi...

freebitcoin
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.