Qtum Technical Analysis: QTUM/USD blasts through $2 with a 15% price increase

  • QTUM/USD breakout destroyed several daily resistance levels.
  • Qtum managed to climb above $2 and hit $2.1 on Binance.

Qtum was relatively flat as most of the market until July 8. The breakout put QTUM above $2 and broke the resistance level at $1.84 and $1.94, as well as, 2$ psychological level. This recent bull move only puts QTUM at the level it was before the crash on March 12. 

QTUM/USD daily chart


The 12-EMA and the 26-EMA have crossed bullishly on July 6 and the MACD on July 5. The daily RSI is on the verge of being overextended and could indicate a short-term pullback after such a significant bull break. The next resistance level is all the way up at $2.33 and $2.62. The overall trading volume is a monthly high. 

QTUM/USD 4-hour chart


The RSI is extremely overextended and QTUM is already under some consolidation. Bulls can use $2 as a support level followed by the 12-EMA, currently located at $1.87. The critical support level to hold is $1.74, the last low of the 4-hour uptrend.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

ETH/BTC on retreat, BTC recovery gains traction

Gold prices spiked above $2,000 amid growing concerns about the economic recovery. Geopolitical tensions and the prospect for further monetary and fiscal stimulus mitigate the financial consequences of COVID-19 drive investors to safe-haven assets. 

More Bitcoin News

XRP/USD under $0.3000 after Ripple announces the investment in XRPL Lab

Ripple's XRP dropped below $0.30 after a failed attempt to settle above $0.3200 during early Asian hours. The coin has lost over 4% in the recent 24 hours and stayed mostly unchanged since the beginning of the day. 

More Ripple News

ETH/USD back on recovery track, $400.00 in focus

Ethereum, the second-largest digital asset came close to $400. If this psychological barrier is cleared, the price may retest the recent high of $415 and continue the recovery towards $450.

More Ethereum News

Altcoin Market Update: ETC and XLM face continual bearish correction

ETC/USD bears stayed in control for the fourth straight day. ETC/USD is currently priced at $7.13. The sellers are looking to get the price below the $7-level.The RSI is trending horizontally around 59.46.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast