Qtum (QTUMUSD) Remains Pressured above the Supply Levels

Qtum (QTUMUSD) Price Forecast: August 22

The QTUMUSD pair held steady and remains pressured above the supply trend lines, facing high demand from the bulls. The cryptocurrency is currently under significant buying pressure from bulls, and the price is expected to break the $2.699 supply value. The token will therefore remain in a steady bullish trend if the current price at $2.426 daily supply value pushes strongly above the $ 2.737 supply trend levels. This trend may then continue to a $3.048 barrier level, giving buy traders immediate gains.

Key Levels:
Resistance Levels: $2.869, $2.870, $2.871
Support Levels:    $1.974, $1.973, $1.972

QTUM (USD) Long-term Trend: Bullish (Daily Chart)

Today, the Qtum market value remains pressured at the upper range, forming a bullish flag chart with high volume from the bulls on the higher time frames.
The prior statement is clear as prices are traded above the moving average line, indicating an uptrend.

However, the previous action at the $2.174 high level has sustained the coin price to remain and trade strongly above the crucial point in its recent price level.

The bullish market effect has caused QTUMUSD to rise toward the $2.426 supply level above the moving averages as the daily chart opens, showing a warning of bullish momentum.

The token is gaining traction with a robust bullish trend. Thus, if the bulls breach the $2.699 resistance, the new all-time high could reach the upper resistance level.

Hence, Qtum price may remain pressured and continue trading above the supply mark, supported by the momentum indicator pointing up. This suggests the pair could soon approach the $3.048 resistance level on the higher time frame.

QTUM (USD) Medium-term Trend: Bullish (4H Chart)

The QTUMUSD pair turns positive today. The price also trades and remains pressured above the supply levels in its medium-term outlook.
The sustained bullish pressure at the $2.136 supply level during yesterday’s session has enabled the buy investors to retain the upward strength in recent times.

Shortly after the commencement of the 4-hourly chart today, the Qtum price rose to a $2.342 supply level above the EMA-50 after the recent threat of increasing, enhancing the buy traders’ tendency to further ladder up the trend.

However, to push the token price above the supply zone, more buyers’ participation is a prerequisite.

In addition, there is a possibility of a further increase in the coin price if buy traders increase their price actions and all the current support level holds, a psychological key level at a $3.120 supply level might be reached soon, as it trades strongly above the resistance levels in its medium-term forecast.

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