Qtum Technical Analysis

Let’s determine the global trend and the key levels using technical analysis of the Qtum to USD value on the oldest time frame chart.

A bullish trend manifests itself on the QTMUSD‘s monthly chart, but its potential appears weak because trade volumes have been falling since May, and December’s candlestick plunged again, retesting the trend line.

The support and resistance levels can also affect the price movement in the medium term. Support has formed at the last minimum of 4.4 USD. The nearest resistance value is the level of 21 US dollars. The Quantum future price is likely to stay in the range mentioned above.

Qtum price prediction for three months

To dive into our technical analysis deeper, we’ll switch to the QTMUSD‘s daily chart.

We’ll lay the Fibo grid over the trend and determine its life cycles. Qtum’s price movement can be divided into five stages:

  • 1 (0–0.236), trend bottom. A return to this area increases reversal chances.

  • 2 and 3 (0.236–0.618), consolidation areas. Their limits are important support and resistance areas.

  • 4 (0.618–0.786), area of dynamic development.

  • 5 (0.786–1), area of peak values.

The price failed to break the upper level of area 2 in November 2021. What’s more, the last growth wave was absorbed, and the rate returned to the grey trend bottom area.

At the same time, the MACD indicator lets us hope that the Qtum value will keep moving in that area without falling further. The indicator’s moving average crossed the signal line from below and moved to the zero area — the blue circle in the chart above. If the indicator’s chart crosses the zero zone or breaks out the lower limit of area 2, a projected fall will be confirmed additionally. At the same time, a clear bullish divergence manifests itself in the chart above.

So, we could presume that the Qtum to US Dollar projected value may attempt to get back shortly to the upper limit of the trend bottom area.

As we lack global trend reversal signals, we will make our price prediction based on the assumption that the global trend will continue developing. The price chart can be expected to continue moving along the trend line by the beginning of the next year. Buyers’ activity will then give rise to a reversal to the upside. Projected growth will have reached area 2 in the chart by March 2022.

Long-term Qtum crypto forecast for 2022

To make a realistic market forecast for Quantum value, we need to go over the historical data and find out some regular price movement patterns.

To do so, I have put Bollinger bands on the price chart and made price projections for a year in advance based on their width change ratios.

My analysis has shown that the Qtum to US Dollar’s accumulated bullish potential will reverse the chart up at the beginning of 2022. The growth will be steady, with the price reaching the second and third Fibonacci areas, like it was in spring 2021.

The QTMUSD’s rate may have reached the dynamic support limits by the end of summer if it manages to consolidate above the key level of 21 USD. As the seller’s strong in areas 4 and 5, the coin is not likely to go higher. Then, a long-term correction may start and last until the end of 2022.

The table below presents the expected Qtum/US Dollar trading range.

Month

QTMUSD value

Minimum, $

Maximum, $

January

2022

7

14.7

February 

2022

10.8

18

March

2022

14.6

19.1

April

2022

15.6

19.8

May

2022

15.7

22

June

2022

18

26.5

July

 2022

19.1

27.3

August 2022

17.9

25.4

September 2022

15.4

22.1

October 2022

14.7

22.7

November 2022

11.9

18.4

December 2022

13.2

19.9

Long-term Qtum (QTMUSD) trading plan

Next on, we’ll make a trading plan for the QTMUSD based on the outlook above.

We can buy the coin at the current levels as part of a long-term strategy — at around 8-10 USD (the blue line in the chart above). 

If the trend line is broken, we’ll have to fix the loss. Stop Loss, marked with the red line in the chart above, is set below 6 USD.

The price target of the first bullish momentum is 17 USD. We can fix 50% of the position there. 

Another target is around 24-25 USD, close to the fourth area. The rest of the position can be fixed there or wait for bearish signals.

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QTMUSD technical analysis is presented by Mikhail Hypov.

Price chart of QTMUSD in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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