BTC is approaching close to $50,000 after Tesla announced that they have invested $1.5 billion in Bitcoin, and with this news, many altcoins have started looking bullish.
Today, we will review QTUM price. QTUM is an open source public blockchain platform. It leverages the security of UTXO and enables multiple virtual machines including EVM and the revolutionary x86 VM. QTUM is proof-of-stake based and boasts a Decentralized Governance Protocol (DGP), allowing specific blockchain settings to be modified by making use of smart contracts. To cite an example, the block size of QTUM can be increased without the need of a hard fork.
QTUM is a business friendly smart contract platform as it is a decentralized application platform compatible with existing blockchain infrastructure and is modularized so that new technology can be easily integrated.
Let us review QTUM price and figure out possible targets for QTUM.
QTUM/USD – Price Prediction- Daily
QTUM was consolidating in the $2.20 to $4.20 area for over a year and made multiple attempts to break it. Once it broke the resistance at $4.20, we saw an immediate move towards the next resistance at $5.50. It will target the next resistance zone at $9.90 and could get rejected and drop down towards $5.50 and $4.20 to retest for support and continue the journey upwards. If it can flip the resistance at $9.90 in an impulsive move, then we are likely to see QTUM heading towards $11.80 and $15.00.
QTUM/USD – Price Prediction – Weekly
As per the weekly candle, it is important for QTUM to flip the resistance at $7.80 to support. If it can close few daily candles above this zone, we could start seeing a move towards the next resistances. We could see a move towards $9.90, $13.20, $15.60, and $22.50. Failure to hold $7.80 could lead to a drop towards $5.10.
QTUM is currently trading at $7.82 and has a market cap of $792,730,628. Its 24-hour trading volume was $2,590,730,912.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.