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QTUM Coin Weekly Analysis And Price Prediction

QTUM Coin has broken the downtrend and is targeting $5,382 with a 60% return potential- support and resistance points.

Lois Zaytsaw by Lois Zaytsaw
19 April 2023
in Cryptocurrency
Reading Time: 3 mins read
0
What is QTUM Coin?

This article will analyze the QTUM coin according to coinmarketcap data. First, we will discuss the QTUM coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.

What is QTUM Coin?

QTUM is a blockchain platform that aims to combine the reliability of Bitcoin’s blockchain with the flexibility of Ethereum’s smart contracts. QTUM uses a proof-of-stake consensus mechanism and runs on the Ethereum Virtual Machine (EVM), allowing developers to create decentralized applications (dApps) using familiar programming languages such as Solidity.

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QTUM coin (QTUM) is the native cryptocurrency of the QTUM blockchain, used to pay for transaction fees, brilliant contract execution, and other network services.

What are the projects of QTUM?

Some of the projects being developed on the QTUM blockchain include the following:

QPocket: A multi-chain wallet that supports QTUM and other cryptocurrencies.

Ink Protocol: A decentralized reputation and payment system for peer-to-peer marketplaces.

MediBloc: A blockchain-based healthcare data platform.

Vanywhere: A peer-to-peer marketplace for freelancers.

SpaceChain: A decentralized satellite network for secure and global data transmission.

QTUM Coin Weekly Analysis And Price Prediction

Factors Influencing QTUM Price

Like other cryptocurrencies, the price of QTUM is influenced by a variety of factors, including:

Market demand:The supply and demand for QTUM on cryptocurrency exchanges can affect its price. The price may rise if there is high demand for QTUM but limited supply. Conversely, the price may fall if there is low demand and excess supply.

Adoption and partnerships:The more widely adopted QTUM is by businesses, developers, and users, the more valuable it may become. Partnerships with other blockchain projects or companies can boost QTUM’s visibility and price.

Technology and innovation:The QTUM team’s ability to innovate and improve the platform’s technology can influence the coin’s price. New features, updates, and upgrades can increase the platform’s value and attract more users.

Regulatory environment: The regulatory landscape for cryptocurrencies can also affect their prices. Changes in laws or regulations can make it more difficult or costly to buy or sell QTUM, which can impact its price.

Investor sentiment:Finally, like any asset, investor sentiment can impact QTUM’s price. Positive news and view can drive up demand and price, while negative news or opinion can decrease demand and cost.

QTUM COİN TECHNICAL ANALYSIS

After seeing its historical high of $ 35.68 in May 2021, QTUM, which entered a downtrend for almost a year and a half and regressed to $ 1.45 with a loss of 95%, is currently trading at $ 3.33, providing a return of over 100% from the beginning of 2023. According to coinmarketcap data, QTUM, which has a size of $346,993,027, has had a volume of $47,447,773 in the last twenty-four hours.

qtum coin analysis 19-04-23

QTUM Chart Analysis

Although QTUM Coin, which has lost 95% in a year and a half, shows signs of recovery in 2023, it is still far from its peak value of $ 35.68. When we examine the QTUM chart, it is seen that it broke the downward trend that started in 2021 and lasted until the end of 2022. We can still consider this positive news for QTUM, which has not yet started the uptrend. QTUM, which will first target $5,352 if it stays on the downtrend (red line), may decline to $2.38 with selling pressure if it goes under the trend again.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.

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Lois Zaytsaw

Lois Zaytsaw

Content Editor, News Meet Lois, a dynamic Crypto, Blockchain, and Finance Writer/Journalist based in the bustling metropolis of New York City. With a passion for technology and a keen understanding of finance, Lois has been covering the latest developments in the world of cryptocurrency and blockchain for several years. Her insightful articles have been featured in numerous leading publications, including The Wall Street Journal, Bloomberg, and CryptoBriefing. Lois' fascination with blockchain and cryptocurrency began during her time as a student at university, where she studied economics and computer science. She was drawn to the disruptive potential of blockchain technology to revolutionize the traditional financial industry, and since then, she has been following the latest trends and innovations in the space.

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