QTUM Price Prediction Today: Daily (QTUM) Value Forecast – June 18
- The short and medium-term outlook is in a bearish trend.
- Traders may look to sell at key areas at bullish exhaustion areas.
QTUM/USD Medium-term Trend: Bearish
Supply zone: $5.00, $5.50, $6.00
Demand zone: $2.50, $2.00, $1.50
QTUM is in a bearish trend in the medium-term outlook. Yesterday opening session witnessed bullish exhaustion at $3.79 in the supply area after the inverted hammer formation. The resistance at the 10-EMA as the cryptocurrency fell to $3.53 before the end of the session.
The 4-hour opening candle today at $3.65 closed bearish at $3.51below the 10-EMA with the stochastic oscillator signal points up at 46% the journey south may be sustained to the 50-EMA.
$3.42 in the demand area is the initial target as the retracement continues to the 38.2 fib area in the medium-term.
QTUM/USD Short-term Trend: Bearish
Qtum is in a downtrend in the short-term outlook. The market opens today at $3.70 with an inverted hammer formation. This implies exhaustion of the bullish momentum and also end to the minor correction. Hence the bearish continuation was confirmed with the inverted hammer.
Increased momentum further led to QTUM dropped to $3.54 with the break of the two EMAs crossover with a larger bearish candle.
The two EMA is acting as a strong resistance against upward price movement as the bearish flag is currently unfolding been.
With price below the two EMAs, a major drop is imminent after bullish exhaustion with $3.40 in the demand area as the bears' initial target.
Live Qtum (QTUM) Price:
1 QTUM/USD =$5.6723 change ~ 6.71%
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