QTUM Technical Analysis: Will QTUM Beat Sellers At $3 To Jump 15%?

QTUM price shows a double bottom pattern preparing to launch a rally in market prices with a bullish breakout to reach the $3.6 mark. Key technical points: QTUM prices have jumped by 4.70% in the last 24 hours. The double bottom pattern forms a neckline at the $3.15 mark. The 24-hour trading volume of QTUM is $85 Million, indicating a rise of 70%. Past Performance of QTUM The QTUM price sustained above $2.60 to weaken the bearish momentum, forming a consolidation range between $2.60 and $3.16. Moreover, the increased bullish influence of the recovering market results in the formation of a double bottom pattern. The overhead resistance of the consolidation range at $3.16 acts as the neckline of the double bottom pattern. Source- Tradingview QTUM Technical Analysis The QTUM price action shows a higher price election in the daily candle from $3.16, displaying an attempt to undermine the bullish breakout. Hence, traders hoping to write the breakout rally must wait for the price action confirmation to avoid a reversal trap. The MACD indicator shows a drastic increase in the fast and slow lines after beginning the bullish alignment and preparing to enter the positive territory. Moreover, the increasing intensity of the positive histograms reflects an increase in the buying pressure. The RSI indicator shows a drastic bullish divergence in the double bottom pattern, increasing the likelihood of a bullish breakout. Moreover, the RSI sl...