THELOGICALINDIAN - Qtum has ahead collapsed to acutely bearish levels with contempo account triggering an upside that could balance the pair
Qtum / USD Short-term amount analysis
QTUM has a bearish concise trading bias, with the cryptocurrency trading beneath its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that a bearish arch and amateur arrangement has formed, with the QTUM / USD brace trading abutting to the neckline of the bearish pattern.
Technical indicators on the four-hour time anatomy accept angry bullish and abide to arresting near-term upside.
Pattern Watch
Traders should agenda that a abundant beyond arch and amateur arrangement will anatomy on the four-hour time anatomy if the accepted bearish arrangement is triggered.
Relative Strength Index
The Relative Strength Index is bullish on the four-hour time frame, although it is starting to access overbought territory.
MACD Indicator
The MACD indicator is bullish on the four-hour time frame, with the MACD arresting band still arising a buy signal.
Fundamental Analysis
Qtum is trending up afterwards the announcement of a affiliation with Google Cloud. Qtum has appear a abounding apartment of accoutrement for blockchain developers, that should abridge development and bulge accoutrement for both engineers and non-technical users.
Qtum / USD Medium-term amount analysis
QTUM has a aloof medium-term trading bias, with the QTUM / USD brace accumulation about its key 200-day aeon affective average.
The circadian time anatomy is assuming that buyers and sellers are aggressive for medium-term ascendancy of the QTUM/USD pair, with both bullish and bearish patterns now present.
Technical indicators on the circadian time anatomy are attempting to balance college afterward the contempo abatement in the QTUM / USD pair.
Pattern Watch
Traders should agenda that the October 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 Index indicator has now angry bullish on the circadian time frame.
MACD Indicator
The MACD indicator is additionally attempting to about-face bullish on the circadian time frame.
Fundamental Analysis
The average appellation affairs for the activity attending promising. The activity continues to advance solid partnerships with projects like Amazon Web Services, Google Cloud, Zeus, amid others.
Conclusion
QTUM is beneath accretion burden in the short-term, with the bearish arrangement on the four-hour time anatomy currently looming over the QTUM / USD pair.
The medium-term angle appears added ambiguous for the cryptocurrency, with both bullish and bearish patterns now apparent beyond the circadian time frame.
Check out our coin guide for Qtum for a quick addition to the project.
