QTUM seems to love the downtrend so much and I suppose on the , the price will fall lower to the at the 0.0018 area. It will act as support on the downway.
is below 50 indicating a downtrend. The is falling down, giving a sell sign. Clearly, QTUM isn't oversold on traditional technical measures such as , , and Moving Averages and more, so that is one warning flag.
The falling trend that has been support since the rally started in Feburary continues to hold indicating the market rally will continue. However, is below average, a sign that the downtrend can continue.
We fell into a bear market as the price dropped below 0.0033 area. The price fell through the rising ex-support level and the 100EMA and crossed below zero.
Conclusion: I will wait the to decide when the best time to open a long position.
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