THELOGICALINDIAN - Qtum has allegory patterns amid abbreviate and mediumterm
QTUM / USD Short-term amount analysis
QTUM has a bullish concise trading bias, with the cryptocurrency convalescent aloft its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that a ample arch and amateur arrangement has formed, with QTUM / USD beasts defective to assemblage the cryptocurrency appear the best levels of 2024 to invalidate the bearish pattern.
Technical indicators on the four-hour time anatomy accept angry bullish and abide to accomplish a able buy signal.
Pattern Watch
Traders should agenda that a circuitous arch and amateur arrangement could be basic on the four-hour time frame, with assorted right-hand shoulders.
Relative Strength Index
The Relative Strength Index is bullish on the four-hour time anatomy and is currently breeding a able buy signal.
MACD Indicator
The MACD indicator has angry bullish on the four-hour time frame, with the MACD arresting band now arising a buy signal.
QTUM / USD Medium-term amount analysis
QTUM has a bullish medium-term trading bias, with the QTUM / USD brace captivation amount able-bodied aloft its key 200-day aeon affective average.
The circadian time anatomy is assuming that a ample astern arch and amateur arrangement has now formed, with buyers now defective to assemblage amount aloft the April 2024 trading aerial to burn the bullish pattern.
Technical indicators on the circadian time anatomy are currently alloyed and are declining to accomplish a bright trading signal.
Pattern Watch
Traders should agenda that the August 2024 trading aerial is the bullish ambition of the ample astern arch and amateur arrangement on the circadian time frame.
Relative Strength Index
The Relative Strength indicator is aloof and is declining to accommodate a bright trading arresting on the circadian time frame.
MACD Indicator
The MACD indicator has a slight bottomward bent on the circadian time frame, with the MACD arresting band still bridge lower.
Conclusion
QTUM beasts are currently alive adamantine to invalidate the bearish arrangement on the four-hour time frame, which has taken appearance due to the aciculate bottomward alteration beforehand this month.
The medium-term angle still looks ablaze for the QTUM / USD pair, with the bullish arrangement on the circadian arrangement abstract to added able medium-term assets for the cryptocurrency.
Check out our coin guide for Qtum for a quick addition to the project.
