2024

Reversal

The post <a href="https://coinpedia.org/price-analysis/qtum-price-shows-35-upside-potential-in-ongoing-reversal/">QTUM Price Shows 35% Upside Potential In Ongoing Reversal</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a long-term consolidation in phase, the QTUM price is trapped after the bear market of 2021 and 2022. However, with the recovery trend starting in late 2023, the buyers are setting a tone for trend reversal in the weekly chart. 
The bullish reversal within the range teases a potential breakout rally to release the trapped momentum within. This increases the likelihood of a bull run in 2024 in support of our <a href="https://coinpedia.org/price-prediction/qtum-price-prediction/#">QTUM price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-qtum-price-range-brings-breakout-possibility">QTUM Price Range Brings Breakout Possibility</h2> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-1024x483.png" alt="" class="wp-image-262254" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-768x363.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/18131934/QTUMUSD_2024-01-18_12-13-53.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source- <a href="https://www.tradingview.com/x/lo8LbeLv/">Tradingview</a> 
Following the bear market crash in 2021 and slowing down in early 2022, the QTUM price trend takes on a lateral trend in the weekly chart. With significantly lowered volatility, the 2023 year led to a consolidation range formation. 
Trading below the 50-week EMA line for the most part, the recovery reversal in late 2023 breaks the average line. This marks a potential trend reversal for the altcoin and sets a bullish tone for 2024.&nbsp; 
Currently, the QTUM price trades at $3.15 with a morning star pattern ready from the 50-week EMA. However, the price remains trapped under the 200-week EMA (black line) and reflects a secondary consolidation range within a larger one.&nbsp; 
Technical Indicators: 
MACD Indicator: The MACD and signal lines are struggling to avoid a bearish crossover as the altcoin consolidates, reflecting low momentum.&nbsp; 
EMA: In the case of the 200-week EMA breakout, the altcoin may soon skyrocket beyond the bigger range, marking a bullish break. Moreover, this will increase the likelihood of a death crossover.&nbsp; 
<h2 class="wp-block-heading" id="h-will-this-range-breakout-start-a-bull-run">Will This Range Breakout Start A Bull Run?</h2> 
With the bullish recovery turning stagnant between the two weekly EMAs, the QTUM price prepares a bounce back with a morning star pattern. In case of increased momentum, the altcoin can reach the $4.50 mark and challenge the range breakout. Optimistically, the breakout rally will set a bullish tone to reach the $10 mark.&nbsp; 
On the flip side, with a reversal under a 50-week EMA, the bears may retest the $2 mark.

QTUM Price Shows 35% Upside Potential In Ongoing Reversal

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