QTUM Technical Analysis: The Critical Mark Of $5.5 Still Under Buyers’ Control

The QTUM price have not played yet a negative role for investors outside the global growth channel. On the weekly timeframe, you can see a significant slowdown in the downward trend for 2 months. Buyers manage to keep the range of $5.5 and this is the main signal for the readiness to form a new growth wave. Starting with the weekly candle of 14 February, buyers have been trying to regain control of the global trend line of the growth channel. On the chart we see that this attempt ended with the closing of the weekly candle below the opening price and with the pin-down. However, such a signal of buyers’ weakness did not provoke sellers to form a new fall wave. Although each subsequent weekly candle closed below the opening price, but at low volumes. Volatility has dropped significantly and during the $5.5 range test, buyers have not experienced significant aggression from sellers. https://www.tradingview.com/x/UY9APeN0/ Therefore, at the moment the continuation of the fall wave is impossible due to insufficient forces of sellers. The main scenario at the moment is the beginning of QTUM price growth with the first target of $8.5. This is where the previous attempt of buyers to launch a medium-term counterattack stopped. The final target at the moment is the $11 mark range. It is from this price point that there is a great risk of starting a new fall wave of QTUM with the main target of $3.6. Technical Analysis Of QTUM On The Daily Timeframe https://www.tradingview.com/x/URvNSJKm/ Analyzing the price movement of QTUM on the daily timeframe, we see that after 24 February, trading volumes fell. We can assume that the set of buyers’ position to form a new growth wave is coming to an end. On the daily chart, we noted the main level, the position and liquidity zone are still gaining ground, where false breakdowns are allowed. Starting from 7 December 2021, sellers have been keeping the initiative in the QTUM market with a red trend line. But, their aggression dropped significantly. On 9 March, buyers began a local growth wave, the main target of which is $7. In this note, it will become clear how much power sellers have left to feed the consolidation in the QTUM market. Thus, while the $5.5 mark is under the control of buyers, we expect the QTUM price to increase in March. The QTUMBTC Price Calls Into Question The Positive In The Market https://www.tradingview.com/x/la9AANAN/ If in the pair to USDT the QTUM price looks encouraging for investors, then in the case of the pair QTUMBTC the opposite is true. Since December 2021, QTUMBTC trading volumes have fallen significantly. Now the QTUMBTC price is falling on a weekly timeframe at such low volumes that it becomes scary for the attractiveness of this cryptocurrency. Thus, the important liquidity volume of 0.00016 is no longer under the control of buyers. One thing is gratifying – that this price fall is very slow and with one weekly candle buyers can completely correct the situation. Therefore, while the price is below the mark of 0.00016 investing in the QTUM cryptocurrency is quite dangerous. And if you have made such a decision – be prepared to buy QTUMBTC at lower liquidity levels to form an attractive average investment price.

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