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QTUM Price Analysis: Explodes for the 3rd Consecutive Day, Travala Partners With Qtum for Travel Products Payment

Travala

Highlights

  • QTUM has rallied by nearly 180% within the last three days
  • Qtum was exchanging hands at $30.75, up by 83.36% in the last 24 hours and 128.28% Weekly
  • Travala partners with Qtum to integrate payments

The cryptocurrency market is giving traders and investors another ‘Altseason’ day. Selected Altcoins such as Qtum (QTUM) are exploding higher. Qtum is a decentralized blockchain application platform capable of running Smart Contracts on multiple virtual machines, with Proof-of-Stake consensus. QTUM has rallied by nearly 180% within the last three days, rising from lows of $13.57 to highs of $38.50 on May 7th. QTUM has a present market cap of $3.19 billion and $7.17 billion in trade volume over the last 24 hours. At the time of writing, Qtum was exchanging hands at $30.75, up by 83.36% in the last 24 hours and 128.28% weekly. Travala partners with Qtum to integrate QTUM payments to book over 2.2 million hotels/homes, 600+ airlines, and 400,000+ activities in more than 230 countries.

Key Levels
Resistance Levels: $85.60, $63.25, $44.53
Support Levels: $24.23, $16.02, $9.68

QTUM/USD Daily Chart: Bullish

QTUM/USD Daily Chart

QTUM extended gains to fresh highs of $38.50 during Friday trading. The asset grinds higher for the 3rd day in a row with the upsloping MA 50 as a sign of optimism. Following its breakout above the $10.89-$16.33 range, buyers seem to have regained control of the price action. If QTUM passes the highs at $38.51, it would reach for the next psychological marks such as $40, $50, and $70.

A move beyond these levels may set the stage for a retest of the all-time highs of near $100. On the other hand, the RSI jumping into the overbought territory may suggest a temporary pullback. $27.12 is the immediate support in case of a pullback. A downward move below $21.35 will shift the outlook to neutral. Further down, the MA 50 at $13.49 would be a critical level to maintain the short-term bullish fever.

QTUM/USD 4-Hour Chart: Bullish

QTUM/USD 4-Hour Chart

A runaway rally gained traction after sellers closed their positions when it was still cheap to do so. Furthermore, the bullish convergence of the MA 50 by the MA 200 fuelled additional improvements in the QTUM/USD pair. The oscillators are favoring the upside with the RSI peeping above the 80 levels. Maintaining the current trajectory, resistance may originate from the immediate $38.51 high. If the QTUM/USD pair continues to log green candles and steps above this barrier, the $50 resistance may challenge buyers’ efforts to gain extra ground.

Should QTUM bulls conquer this, they could then propel for the $70 barrier and then the $100 all-time high. Otherwise, if the sellers regain power, initial support could range from $28.81 to $17.66. If QTUM/USD price retracts below this range, the pair may then sink to test a key support base from $16.76 until the $15.43 mark, a zone that is reinforced by the bullish intersection between the MA 50 and 200.

Note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Image Credit: Stock Photo Secrets

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