- QTUM/USD trade has undervalued below $4 price territory in a range.
- The QTUM/USD market is likely to continue to wallow around the $3 point until the end of the next trading sessions.
QTUM/USD Long-term Trend – Ranging
- Distribution territories: $6, $7, $8
- Accumulation territories: $2, $1.50, $0.50
QTUM/USD market operations have continued to being undervalued in a range below $4 price territory. Current choppy price moves have been on for over a week as the market has been fluctuating about $3 point. Price has now fallen in line with the trend-line direction of the smaller SMA indicator at the range spot.
The 50-day SMA trading indicator still keeps very tightly below the $4 price line, and, the 14-day SMA indicator is underneath it. The Stochastic Oscillators have weakly swerved from range 20 to point to the north across range 40. That depicts the force to push northward hasn’t the required strength in the market.
The QTUM/USD market is likely to continue to wallow around the $3 point until the end of the next trading sessions. And, in the event of price doing that, the possibility of seeing the market getting down to the $2 immediate accumulation territory will be on the rise
Qtum:
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
