QTUMUSD dominated by bears dragging the market lower throughout the day
Moving lower for the 2nd day in a row, QTUMUSD ended Saturday at 4.57 losing $0.40 (-8.05%). Today's closing price of 4.57 marks the lowest close since Inception. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 4.96, Qtum confirms its breakout through the prior session's low having traded $0.41 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Saturday's trading range was $0.46 (9.18%), that's slightly below last trading month's daily average range of $0.48. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being exactly the same as average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for QTUM/USD Index
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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