- The short and medium-term outlook is in the bullish trend.
- Responsible buying may be considered.
QTUM/USD Medium-term Trend: Bullish
Supply zone: $8.00, $8.50, $9.00
Demand zone: $2.50, $2.00, $1.50
QTUM is in a bullish trend in the medium-term outlook. The bulls exercise strong pressure on the coin led to a rise in price to $6.30 in the supply area on 26th June. The wick in the candle implies exhaustion as the bears gradually took control of the market.
The retracement was deep as the cryptocurrency fell to $3.98 in the demand area during yesterday session. This was the 78.6 fib level, a trend reversal area.
The bulls gradually return with price initially up at $4.64 and later at $5.14 as the bulls confirm their hold of the market with a large candle.
Price is above the two EMAs and the stochastic oscillator signal points up at 49%. These suggest an upward momentum in price in the medium-term. $6.40 in the supply area may be retested.
QTUM/USD Short-term Trend: Bullish
Qtum is in an uptrend in the short-term outlook. The market opened on a bullish note today at $4.27 and push the coin up to $4.75 in the supply area above the two EMAs.
Increased momentum pushed the cryptocurrency further up to $5.14 in the supply area before exhaustion sets in.
Price is above the two EMAs an indication of bullish pressure. $5.40 in the supply area is bulls initial target as more buyers take positions in the market 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.
