- The QTUM coin obtains strong support from the 20-day EMA
- The QTUM/BTC pair trading at 0.0002649 BTC, with a gain of 2.15%,
- The 24-hour volume of QTUM coins are $575.7 Million, indicating a 112.5% gain
The QTUM technical chart indicates a promising result for this coin when the price managed to reclaim from the crucial resistance of $15.1. This resistance level has failed several attempts of coin price trying to reach the higher levels.
Thus, on October 31st, the coin price gave a decisive breakout from the overhead resistance, with strong support from volume activity. The coin is still trying in its retest phase, trying to obtain sufficient support from this support.
According to the crucial EMAs, the QTUM coin indicates a strong uptrend where the coin price is moving above the 20, 50, 100, and 200 EMA. Moreover, the coin is currently obtaining good support from the 20 EMA line.
The RSI value is 62, indicating a bullish sentiment for QTUM coins.
The QTUM Coin Displays A Minor Consolidation Phase.
For the past two weeks now, the QTUM coin price has been resonating between $18.5 and $15.12 levels, creating a narrow range in its chart. The breakout from this small range will decide if the coin passed reclaiming the $15.1 mark or now. The crypto traders would get an excellent entry opportunity for either side of the trade. The QTUM coin is currently trading at $0.0039 with an intraday gain of 2.72%.
As per the traditional pivot levels, the nearest resistance for the QTUM coin is at the $18.5 mark, followed by the $20.2 mark. As on the flip, the crypto traders can expect significant support levels at $17 and later $15.1.
Conclusion: The overall trend for the QTUM coin is bullish. However, the coin is still in a retest phase of the $15.1 breakout, and if the price manages to sustain above this level, the coin trader can expect a good target of $22.5.
Support $17, $15.1
Resistance $18.5