Qtum (QTUMSD) Trades Strongly above the $3.70 Supply Mark

Qtum (QTUMUSD) Price Forecast: February 5

The QTUMUSD pair held steady and traded strongly above the supply trend lines, facing high demand from the bulls. The coin at the moment is trying hard not to fall by resisting sellers. If the bulls’ pressure breaks up the resistance level of $5.72, the coin price may increase further to a $6.00 high trend line, retaining its upward growth.

Key Levels:
Resistance Levels: $3.72 $3.73, $3.74
Support Levels: $2.05, $2.04, $2.03

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

The Qtum market forms a bullish flag chart as it trades strongly above the supply mark with high demand 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 $3.17 high level has sustained the coin price
to remain and trades strongly above the crucial point in its recent price level.

QTUMUSD price is losing bearish momentum as it surges to a $3.72 supply level above the moving averages as the daily chart begins today due to a bullish impact on the market price.

The token is gaining traction with a robust bullish trend. Thus, if the bulls breach the $5.72 resistance, the new all-time high could reach the upper resistance level.

Hence, the Qtum price may continue to trade strongly above the supply mark, as shown by the momentum indicator pointing up. As a result, the pair may reach the $6.00 resistance level soon as it trades strongly above the supply trend lines in its higher time frame.

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

QTUMUSD pair turns positive today. The price also trades strongly above the supply levels in its medium-term outlook.
The coin has been having an interference with the long traders making it possible for it to maintain the upward strength in its recent high.

The Qtum price rises to a $3.72 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 price above the supply zone more buyers’ participation is a prerequisite.

In addition, there is a possibility of further increase in the price of Qtum if the buy traders should increase their price actions and all the current support level holds, a psychological key level at the $6.00 supply level might be reached soon as it trades strongly above the resistance levels in its medium-term forecast.

Buy Qtum on eightcap.com