QTUM Technical Analysis: Triple Bearish Threat Discounts 30% Value

QTUM coin price declined 30% last fortnight, starting from the resistance confluence of the ascending trendline, the $8.85 level, and the 200-day EMA. Key technical points: The QTUM price reached the $6 mark. The 50-day EMA brings consolidation fallout. Finally, the 24-hour trading volume of QTUM is $111.57 Million, marking a 20% rise. Past Performance of QTUM QTUM coin price shows an expanding channel pattern in the daily chart with equally solid trendlines. The coin price shows a reversal from the triple bearish threat of the 200-day EMA, resistance trendline, and the $8.85 level. The retracement accounts for a 30% discount in the last two weeks, bringing the market value closer to $6. Source-Tradingview QTUM Technical Analysis QTUM coin prices showcased a consolidation phase below the 50-day EMA, closer to the $7 mark. Then, however, the increasing bearish influence over the crypto market kickstarts the downfall and hits the $6 mark. The bearish reversal overrides the bullish reversal observed in the 50 and 100-day EMA and leads to a flat trend. Hence, the possibility of bullish crossovers is lowered, and the EMAs again provide opposition to bullish growth. RSI Indicator: The RSI slope takes a big hit as it falls into the nearly oversold zone, and the 14-day average line shifts into the reverse gear and hits the halfway line. Hence, the indicator projects a remarkable increase in the underlying bearishness. MACD Indicator: ...