QTUM is continuously struggling to get out of the bearish settings and to make an effective recovery in its price. The short-term price analysis shows surging trends and the four-hour time frame indicates above 200-period average.
Also, a head and shoulder pattern was evident and the pair seems to be on recovery mode after facing bearish trends in the past.
The technical indicators on the 4-hour time frame indicate bullish patterns on the chart.
QTUM price chart by Trading View
The technical indicator, pattern watch shows head and shoulder pattern and many right-hand shoulders. The RSI points out towards buying signal and surging patterns and the MCAD also indicates similar patterns.
The pair QTUM/USD on the medium-term also indicates bullish signals and the pair is above 200-day period which is a good sign.
The daily time frame indicates a large inverted head and shoulder signal. However, the technical indicators are showing complicated results and no clear signal for trading.
QTUM price chart by Trading View
The pattern watch shows the bullish pattern and the anticipated target for this pair is set to be that of August 2018, trading which was marked highest so far.
The RSI is not showing any clear signs for trading and is said to be neutral. The MCAD indicator points out to the slight downward trends.
The short-term analysis of the pair indicates struggle and the downward correction that was made at the start of this year. However, the medium-term analysis revealed strong bullish tendencies for this pair and also gives a ray of hope for the future.
