Qtum has hit a new low and this one has been oversold for a while now. Let's take a quick read at the charts:
We are looking at some really strong divergence on the MACD . This chart shows 3 days per candle.
Coming out of oversold.
Still needs more volume .
Trying to break above EMA10.
QTUMBTC should breakout in 1-2 weeks if the market turns green. If not, it can continue on its slow decline. Early signals points to a corrective wave up at least.
The weekly candle is forming a reversal candle. Weekly candle closes within 32 hours.
Note: This is no trade advice.
Keep an eye out on this coin if you like it as it might move up soon.
Thanks a lot for reading.
Namaste.
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