QTUM Price Prediction Today: Daily (QTUM) Value Forecast – June 7
- 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.
Live Qtum (QTUM) Price:
1 QTUM/USD =$6.3610 change ~ -1.77%
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