QTUM Price Prediction Today: Daily (QTUM) Value Forecast – July 5

  • The short-term is in a bearish trend while the medium-term outlook is in a range-bound market.
  • Patience is required during the consolidation phase.

QTUM/USD Medium-term Trend: Ranging

Supply zone: $6.00, $6.50, $7.00
Demand zone: $2.50, $2.00, $1.50

QTUM is in a range-bound market in the medium-term outlook. The large bearish candle at $5.12 that broke the support at the two EMAs toward yesterday session signaled bears takeover of the ranging market. The cryptocurrency dropped to $4.71.

At the opening of today’s session, the bearish momentum was sustained with a further drop of price to $4.68. Although minor correction occurred as the bulls stage a brief comeback with the coin up at $4.95.

Price is below the two EMAs and the signal of the stochastic oscillator points down at 18% in the oversold region which implies downward momentum in price within the range.

QTUMUSD is in consolidation and trading between $5.60 in the upper supply area and at $4.40 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

QTUM/USD Short-term Trend: Bearish

Qtum is in a downtrend in the short-term outlook. Today’s 1-hour opening candle was bearish engulfing with the opening price at $5.04. Price drops initially to $4.73 and later to $4.68 due to increased bearish momentum.

The 50-EMA and the trendline are strong resistance as price bounces off and keep dropping in the short-term.

With the stochastic oscillator points down at 37% this suggests further downward movement in the short-term.

$4.50 in the demand area is bears initial target as more sellers take positions as the journey down south continues.

Live Qtum (QTUM) Price:

1 QTUM/USD =$2.8454 change ~ 8.50%

Coin Market Cap

$275.76 Million

24 Hour Volume

$115.94 Million

24 Hour VWAP

$3

24 Hour Change

$0.2420

 

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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