- QTUM Token price breaks the critical level of $12 with a jump of more than 35% in the past 48 hours.
- The coin price jumps above all the crucial EMAs in the daily chart.
- The QTUM/BTC token pair trades at 0.0003058 BTC with an intraday rise of +17.87%
QTUM token price rose more than 35% after consolidating a bit for a few days near the $11 mark. The token price broke the critical resistance level of $12 with the latest price jump.
The price heads higher above the 200 EMA, increasing the chances of bullish crossovers. However, investors might see the price reverse as a retest of the breakout.
Investors need to stay cautious and avoid entering into the uptrend as the price may abruptly reverse due to high market volatility.
The QTUM token price is worth $14.23, with a +18.08% growth in the market cap within 24 hours. Moreover, the intraday trading volume of the token has increased 129% in projecting the entry of speculators.
QTUM Token Price Rising Within A Parallel Channel.
QTUM token’s price has continued to rise, with bullish candle formations within a rising channel in a 4-hour technical analysis. There may be a retest of the $12 level, which could see some retracement.
Investors might soon see the coin’s price hit $12 and then reverse to trend higher to $18 or even $22. Conversely, investors may see the coin price reaching $12 soon before it reverses to trend higher towards $18 or $22.
The QTUM token has surpassed all significant EMAs. Moreover, it is supported by the parabolic SAR projecting an upward trend. Therefore, bullish alignments of all significant EMAs increase and may soon drive the prices higher.
Relative strength (bullish) suggests a growth underlying bullish emotions as the RSI spikes sharply and may soon enter overbought zones. The RSI slope is, however, still within the neutral range, suggesting a further uptrend.
As the price rises and breaks through resistances effortlessly, the ADX indicator increases trend momentum.
CONCLUSION: The QTUM token’s price may reach the $12 level again, but there is little chance of that due to intense buying pressure. Investors might be more inclined to hold than to join with speculations in an attempt to time the high. There are also minimal chances for a reversal.
Support Levels – $8.
Resistance Levels – $18 and $22