• QTUM/USD market has been featuring in a range around $3 point since July 15 until the now.
• More range price movements around $4 and $3 price territories in the next trading sessions are imminent.

QTUM/USD Long-term Trend – Ranging

• Distribution territories: $6, $7, $8
• Accumulation territories: $2, $1.50, $0.50

Price movements of the QTUM/USD market have been featuring in a range around $3 point since July 15 until the now. Lately, the crypto’s trend was in a bearish outlook. As at now, the choppy moving mode settings have been forming under the trend-lines of the trading SMAs.

The 14-day SMA indicator has just briefly intercepted the 50-day SMA from the top. That signifies the extent at which the pair’s drop in value. The Stochastic Oscillators now feebly point to the north at range 20. That could still lead to seeing choppier price movements in the market.

The slow interception that has taken place between the two SMA trading indicators could cause the crypto-market to witness more range price movements around $4 and $3 price territories in the next trading sessions. The bears may lead in a consolidation movement by bringing the value down to around $2 immediate accumulation territory. The Bulls seem not coming back with full force soon into this crypto-market.

Qtum:

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