#qutm $QTUM

Market Overview:

Current Price: ~$3.42

24h High: $3.648

24h Low: $2.783

Price Change: +21.82%

Trading Volume: 18.92M USDT

Technical Analysis:

1. Moving Averages:

MA(7) (Yellow Line): $3.431

MA(25) (Pink Line): $3.521

MA(99) (Purple Line): $3.217

Observation:

The short-term MA(7) is below MA(25), indicating short-term weakness.

The price is near the MA(99), which acts as a support level around $3.217.

2. Price Trend:

The price recently touched a high of $3.648 before pulling back.

A downward trend is forming with lower highs and lower lows.

A bounce was seen around $3.383, suggesting some support.

3. Candlestick Pattern:

Recent candles show a small green recovery after a downward move.

This could indicate a temporary pullback before deciding the next major move.

Market Prediction:

Bullish Scenario (Upward Movement):

If the price holds above $3.38 support and reclaims $3.52, it can push towards $3.65 - $3.70.

A strong breakout above $3.65 can lead to a further rally.

Bearish Scenario (Downward Movement):

If the price fails to stay above $3.38, it may retest $3.22 (MA99 support).

Breaking below $3.22 could lead to a fall towards $3.05 - $2.90.

Final Decision:

Short-Term: The market is slightly bearish due to lower highs and lower lows.

Mid-Term: If the price holds support and breaks resistance at $3.52, it can turn bullish.

Recommendation: Wait for confirmation above $3.52 before buying, or if it breaks below $3.38, consider shorting.