Is QTUM Price Ready for a Short-Term Breakout to $4.60?

The post Is QTUM Price Ready for a Short-Term Breakout to $4.60? appeared first on Coinpedia Fintech News

The QTUM price today trades at $3.03 and it is marking a 15.09% increase over the last 24 hours, with a market cap of $321.35 million. Analysts predict a bullish upside for QTUM price moving forward in the upcoming sessions.

Recent Performance and Price Increase

QTUM has been trending upwards, increasing by 18.94% in the last week, and 38.83% over the last month. The token’s 29.11% year-over-year performance further highlights the continued resilience of QTUM crypto still 97.16% lower than its all-time high of $106.88 set in 2018.

Also the coinmarketcap data shows that nearly $330 million trading volume was present in 24-hour, reflecting demand for QTUM.

Therefore, per the offchain data, the QTUM price today reflects strong investor interest. This shows renewed attention.

QTUM Price Forecast: Bullish Momentum Ahead

Looking at the QTUM price chart, the analysts suggest that the token could see an upside movement toward the $17-$19 range by the end of the year, which would represent a potential 370% upside from current levels. 

Analyst believes a declining trendline is being retested on weekly charts. This projection takes into account the positive technical indicators and the growing market sentiment surrounding the project.

Short-Term Outlook and Technical Levels

On the shorter timeframes, such as the daily and 4-hour charts, technical analysis suggests $4.00, $4.20, and $4.60 could be the next key resistance levels for QTUM price USD. 

However, risk still remains, if Bitcoin or other major assets like ETH face a downturn, QTUM could experience short-term corrections. Conversely, continued bullish sentiment and volume could push the asset toward the higher targets suggested in the analysis.