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- QTUM price action forms a parabola curve in a weekly time-frame
- The 24-hour volume in QTUM is at $960,281,779 with a 60.51% decrease
- The QTUM/BTC pair was trading at 0.0001579 BTC with a gain of 5.81%
The weekly technical chart of QTUM price action forecasts a parabolic movement. According to pivot points, QTUM’s critical support level is placed at $5.0. Whereas if it moves up, the key resistance level to watch is $22.75. While diving into the weekly chart, it completes a bullish engulfing candlestick pattern representing bulls are in control.
The parabola curve represents a parabolic movement in the asset’s price which gives a trend or direction for the coin to move along with it. According to the curve the upside potential of the coin is $22.75 which is 166% return from the current price. Moreover there has been an enormous increase in volume from the past two years which will support the coin to drive its price to higher levels. Investors can perceive this 166% return from here in a minimum of 4-6 months of timeframe.
RSI indicator (BULLISH), with a value of 71.52, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 56 to 71 in the index, and it may soar in future trading sessions.
The volume of (63.667M) represents a massive buying volume which is above the Volume MA (37.312M) of 20-days. Buying pressure is observed in QTUM this week and it can drive its price to higher levels.
QTUM Price Action Projects Bullish Movement
QTUM price traded at $8.42 with a loss of 3.52% in the last 24-hour and 20% up in the weekly time-frame. Furthermore, QTUM is forming a parabola and can move according to it. In contrast, the market capitalization stands at $844 million. Technically, the RSI index showcases an upward slope. Moreover, the price movement can be upto $22.75 in future trading sessions.
Resistance: $22.75
Support: $5.0
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
