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- QTUM has been affected by the consolidated momentum of the Bitcoin price. The asset price is currently trading near the value of $3.45
- Technical indicators of QTUM are currently not favoring the bulls.Meanwhile, QTUM/BTC pair has seen a drop of 8% in the intraday session
QTUM is built on the Bitcoin UTXO transaction model with the added functionality of smart contracts and execution of the Dapps.They have also added the support for the defi platforms. They deal with the problems like interpolablity, governance,rigidity and the costliness of Proof Of Work Platforms. They also resolve the problems of connecting smart contracts with real life applications. The founders of QTUM are Neil Mahl and Jordan Earls. The maximum total supply of the QTUM is 103,944,501
The total market cap of the asset is $359,368,956 and is ranked 99th in the CMC. Meanwhile, the volume of the asset has seen a pump of 30% in the past 24 hours. The volume to market cap ratio of the asset hints towards a consolidated trend for the future.
Bears Of QTUM Are Not In Hibernation
The weekly technical chart of the QTUM price is currently seeing a consolidated momentum. On coming to the daily chart the asset price is near $3.5 with a drop of more than 14% in the intraday session. The asset price is currently below the 100 and 200 Daily Moving Average. If the price sees a positive divergence then a strong momentum can be seen in the future. The support of the asset price can be observed near $2..5. Meanwhile the upside momentum of the coin can see a threshold near $7.
RSI: RSI of the asset price is currently near 36 hinting its presence in the oversold zone. Meanwhile, there is a strong negative slope which suggests a downside momentum. The overall sentiment of the RSI is Bearish.
Conclusion
QTUM price is one of the projects which uses the technology of Bitcoin and Ethereum. It is currently seeing a downside momentum. Various analysts predicts a strong momentum in price in the future.
Technical Levels
Major Support: $2.2-$2.5
Major Resistance:$5-$5.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
