QTUM Price Prediction Today: Daily (QTUM) Value Forecast – July 23

  • The bears are in control of the short and medium-term outlook.
  • Traders may consider selling at pullback areas.

QTUM/USD Medium-term Trend: Bearish

Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.00, $1.50, $1.00

QTUM is in a bearish trend in the medium-term outlook. The bulls had a good run with the cryptocurrency up at to $3.46 in the supply area surpassing the target at to $3.30. The rally was cut short on 20th July due to exhaustion denoted by wick in the inverted candle.

The bears had a gradual returned with an initial break of the two EMAs on 21st July as price plummeted to $3.11 in the demand area. The momentum was sustained during yesterday session with price as low as to $2.95.

Although today opening candle closes a bearish doji at to $3.03, the large bearish candle confirmed that bears stronghold of the market as the coin fell to $2.87 in the demand area.

The signal of the stochastic is pointing down at 10% in the oversold region an indication of downward continuation with the key demand area at $2.60 as the bears' target in the medium-term.

QTUM/USD Short-term Trend: Bearish

QTUM is in a downtrend in the short-term outlook. The bearish railroad format to $3.25 in the supply area shortly after yesterday opening signaled the bears' presence. With the support at the two EMAs broken at $3.17, the downtrend was confirmed. $3.16 was the low before the end of yesterday session.

The pressure was strong on the coin as the market opened today at to $3.03 with a further drop in price to $2.87 in the demand area.

Price is below the two EMAs with the 10-EMA a strong resistance against upward price movement. The stochastic oscillator signal points down at 12% in the oversold region an indication of strong downward momentum in price in the short-term.

Live Qtum (QTUM) Price:

1 QTUM/USD =$2.7846 change ~ -0.68%

Coin Market Cap

$269.87 Million

24 Hour Volume

$104.87 Million

24 Hour VWAP

$3

24 Hour Change

$-0.0190

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Azeez Mustapha
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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