QTUM/USDT Technical Analysis
1️⃣ Key Levels:
Resistance: 4.099 (Recent high, strong rejection)
Support Levels:
3.607 (Short-term support, previous consolidation zone)
3.052 (Intermediate support)
2.820 (24H low, major support)
Breakout Zone: Above 4.099 → Bullish continuation
2️⃣ Market Context:
Trend: Huge price spike followed by a pullback, indicating profit-taking.
Momentum: Bullish trend losing strength after rejection at 4.099.
Volatility: High volatility with large wicks, suggesting indecision.
3️⃣ Trade Setup:
🔹 Bullish Trade Setup (Breakout Play)
Entry: If price reclaims 3.607 and forms higher lows.
Target 1: 3.884 (Midway resistance).
Target 2: 4.099 (Breakout level).
Target 3: 4.300+ if breakout holds.
Stop-loss: Below 3.300 to manage risk.
🔹 Bearish Trade Setup (Pullback Play)
Entry: If price fails to hold 3.396 and breaks below 3.300.
Target 1: 3.052 (Support zone).
Target 2: 2.820 (Major support).
Stop-loss: Above 3.610 to avoid fakeouts.
📌 Summary: Wait for price confirmation near 3.607. A bounce signals bullish continuation, while a break below 3.300 could trigger further downside. High volatility makes quick reactions crucial. 🚀