- The short and medium-term outlook is in a bullish trend.
- Responsible buying recommended.
QTUM/USD Medium-term Trend: Bullish
Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.50, $2.00, $1.50
QTUM is in a bullish trend in the medium-term outlook. The pressure exerted by the bears on the cryptocurrency was weakened at $2.67 on 17th July with the bearish spinning top formation. QTUMUSD rose to $3.16 in the supply area before the close of yesterday session.
Despite a bearish opening at $3.09, the coin plunges to $2.88 in the demand area with the 4-hour candle closing as a bullish spinning top an indication of a trend reversal.
The rally has just begun with the coin up above the 10-EMA at $3.07 an indication of commencement of the journey up north.
The signal of the stochastic is pointing up at 80% an indication of upward momentum in the medium-term. $3.30 in the supply area is on the card.
QTUM/USD Short-term Trend: Bullish
QTUM is in an uptrend in the short-term outlook. The cryptocurrency is in an ascending channel. The bears had dominance within the market as the session opened today at $3.07.
Exhaustion occurred at the lower line of the channel after price dropped to $2.93.
The bounce to the upside much expected has just begun at the lower line of the channel as the bulls took control of the market.
The cryptocurrency is up at $3.07 with the target at $3.27 in the upper line of the channel as momentum increased in the short-term.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
