search icon
      blog search icon

      Qtum price prediction – Towards $10? - Stocks Telegraph

      By Muskan

      Published on

      August 5, 2021

      2:12 PM UTC

      Qtum price prediction – Towards $10? - Stocks Telegraph

      Qtum had been moving upwards since the end of July; however, the bullish momentum of the cryptocurrency has slowed down in the current timeframe. At the time of writing, the token stands at a price level of $7.70. The price has moved upwards only by 2% in the past twenty-four hours. In the weekly timeframe, Qtum has gained by 16%. The daily trading volume has declined by 24%. The cryptocurrency stands at a market rank of eighty-ninth in terms of capitalization.

      Technical analysis

      The market sentiment for Qtum crypto is neutral. Ten of the total twenty-six technical indicators are giving out an indication of sell. Eight indicators of the rest are standing at a neutral position while the remaining eight are giving out an indication of sell. The Oscillators are bearish while the Moving Averages are bullish.

      Qtum Price Prediction
      Qtum Price Prediction

      A trader’s analysis has identified a descending resistance line for Qtum. The trendline had been a source of strong resistance and the cryptocurrency has faced rejections at the level too. The recent bullish momentum in the market has resulted in a breakout from the trendline. However, the breakout and subsequent upward momentum has yet to be confirmed by the cryptocurrency if it enters a supporting zone that has been identified. The support zone lies at $8.15 to $9.00. The upcoming price action of the cryptocurrency will prove to be crucial for its future trajectory. If the support is stabilized, the price targets will lie at $10.05, $14.51 followed by $17.96 and finally $22.83.

      Qtum price projections

      Qtum is a proof-of-stake open-source blockchain which combines the pros of Bitcoin and Ethereum to create a much more scalable and efficient blockchain. According to the estimates of Wallet Investor, the cryptocurrency will be operating at a price level of $11.77 in a year’s time while the five-year price will be at $29.75. Digital Coin Price also projects the coin to reach $11.61 by the end of 2021 while the price in five years will be at $29.

      More From Stocks telegraph