The #QTUM/USDT pair is currently trading around $2.271, slightly below the 200-period moving average, which has acted as a strong resistance level in recent trading sessions. The price attempted to break above this level but faced rejection, indicating a potential struggle to continue upward momentum.
RSI: The RSI is currently at 57.08, indicating a neutral to slightly bullish sentiment. While not in the overbought zone, it suggests thereâs still some room for upward movement, but the momentum is relatively moderate.
MACD: The MACD shows a slight bearish crossover, with the histogram moving close to the neutral line. This suggests that the recent bullish momentum may be weakening, and a potential shift towards downside pressure could occur if the indicators turn more negative.
Resistance: Immediate resistance is at $2.419 (200-period moving average). If the price manages to break above this level, the next significant resistance could be around $2.500.
Support: Immediate support is found around $2.100, with stronger support near $2.000, which could act as a safety net if the price faces increased bearish pressure.
Bearish: If the price continues to be rejected by the 200-period moving average and bearish indicators strengthen, the price could drop towards the $2.100 support level or even lower to $2.000 if the selling pressure intensifies.
Bullish: For a bullish scenario to emerge, the price would need to break and sustain above the $2.419 resistance level. In that case, the next target could be around $2.500
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Always conduct your own research before making any trading decisions.
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