📈 Technical Analysis: Qtum ( $QTUM )
Market capitalization: $152M.
The overnight QTUM crash is tied to broad market panic over the escalating US-EU trade conflict, which triggered $546M in mass liquidations and capital flight to gold and silver.
How to trade❔
💬 A support level has formed near current prices on the chart. Price is pulling back after an upward impulse – an ideal entry point for a long position.
💬 Entry: at current price. Stop-loss: below the nearest swing low. Take-profit: before the next resistance level. Risk/reward ratio: excellent.
💬 Important: if the stop triggers, it's better not to open a short – the nearest level for shorting is too close, making it difficult to maintain a good risk/reward ratio.
Conclusion:
Qtum after the drop is an opportunity for a positional entry on the pullback. The key is not to get greedy with the take-profit.
📈 Open a trade with $QTUM
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