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

QTUM/USD Medium-term Trend: Ranging

Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.50, $2.00, $1.50

QTUM is in a range-bound market in the medium-term outlook. The increased bearish momentum continued further to $3.07 in the demand area during yesterday session before it was lost. The cryptocurrency was this area on 26th May as the bulls stage a return with the hammer formation.

The break of the 10-EMA confirmed the bulls dominance of the market which was sustained after today’s 4-hour opening candle as price rose to $3.41 within the range.

The stochastic oscillator signal points up at 86% and price is between the two EMAs. These suggest upward momentum within the range as the bulls the market in the medium-term.

$3.30 is the upper supply area of the range while $2.81 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.

QTUM/USD Short-term Trend: Bullish

Qtum is in an uptrend in the short-term outlook. The formation of a bullish hammer at $3.61 in the demand area during yesterday session. This suggests a reversal and subsequently the bulls takeover. $2.98 in the supply area was the high before the close of the session coupled with the break of the10-EMA.

The bulls held the market firm as the market opens with a large bullish candle at $2.96 with the break of the 50-EMA.

QTUMUSD is up at $3.13 in the supply area above the two EMAs with the stochastic oscillator signal pointing up 80%, an upward continuation in the price is confirmed 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.