Qtum / US Dollar Cryptocurrency Forecast
Qtum / US Dollar cryptocurrency price fell more than -7.13% Wednesday closing at $3.84
(Updated on Apr 17, 2024)
The Qtum / US Dollar cryptocurrency price fell by -7.13% on the last day (Wednesday, 17th Apr 2024) from $4.14 to $3.84. During the last trading day the cryptocurrency fluctuated 9.71% from a day low at $3.66 to a day high of $4.01. The price has fallen in 6 of the last 10 days and is down by -11.71% for this period. Volume has increased on the last day by 60 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 69 million shares were bought and sold for approximately $263.95 million.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 45.79% during the next 3 months and, with a 90% probability hold a price between $5.58 and $9.46 at the end of this 3-month period.
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QTUMUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Qtum / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.24 and $4.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -29.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for Qtum / US Dollar cryptocurrency
Qtum / US Dollar finds support from accumulated volume at $3.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.355 between high and low, or 9.71%. For the last week, the cryptocurrency has had daily average volatility of 20.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QTUMUSD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Qtum / US Dollar to open at $3.84, and during the day (based on 14 day Average True Range), to move between $3.27 and $4.41, which gives a possible trading interval of +/-$0.571 (+/-14.86%) up or down from last closing price. If Qtum / US Dollar takes out the full calculated possible swing range there will be an estimated 29.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.78 (1.68%) than the resistance at $4.15 (7.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qtum / US Dollar cryptocurrency A Buy?
The Qtum / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Qtum / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.316 Strong Sell Candidate Downgraded
Predicted Opening Price for Qtum / US Dollar of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $3.84 ( 0.100%) | $3.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QTUMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.19 | 9.15 % | |
| R2 | 4.06 | 5.61 % | ||
| R1 | 3.97 | 3.43 % | ||
| Current price: | 3.84 | |||
| Support | S1 | 3.70 | -3.63 % | |
| S2 | 3.62 | -5.81 % | ||
| S3 | 3.48 | -9.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.63 | 20.65 % | |
| R2 | 4.15 | 8.17 % | ||
| R1 | 4.15 | 7.96 % | ||
| Current price | 3.84 | |||
| Support | S1 | 3.78 | -1.68% | |
| S2 | 3.49 | -9.22% | ||
| S3 | 3.35 | -12.69% |
FAQ
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