Qtum is the first UTXO-based smart contract system with a proof-of-stake (PoS) consensus model. It is a cryptocurrency that combines Ethereum’s smart contract functionality with bitcoin’s security to create a coin that is suitable for adoption by large organizations. https://ift.tt/393ADrx Past Performance On March 16, 2021, QTUM opened at $6.555. As of March 22, 2021, QTUM closed at $7.014. Thus, in the past week, the coin’s price has increased by roughly 9%. In the last 24 hours, QTUM has traded between $7.014 and $6.645. This is showing a falling trend. It has fallen by 6% during this period and continues to show a trend reversal. Days-Ahead and Tomorrow Currently, QTUM is trading at $6.586. The price has slightly moved from the opening price of $6.575. Thus, the market looks flat. The MACD and signal lines are in the negative territory. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish, and we can expect a further price pullback. Currently, the RSI indicator is at 55%. It has moved away from either of the regions. Thus, it is a good time for traders to lie low and swing traders to watch out for gaps where they can make money. The A/D indicator has been decreasing in the past half hour. Thus, whale accumulation activity is quite low. Heavy buying will exert upward pressure on the QTUM price. There is a positive divergence here. Hence, as expected the price is falling and giving an opportunity to the swing traders to find divergence and trade. QTUM Price Analysis Presently, the price is below the Fibonacci pivot point of $5.586. It is still further away from the first support level of $3.376. If the bears remain strong for some more time, the price is likely to fall below the second support level of $1.826. However, it needs to have some more momentum for the next 4 hours to really cross this. The price has tested and gone near the 76.4% FIB retracement level of $8.395. If it does not retest and break out of this level by day close, then the downtrend will continue tomorrow as well. As of now, it is nearing the 138.2% FIB retracement level of $9.945.
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