Qtum Technical Analysis — How Much Will Qtum be Worth in 2021?

This 2021 Qtum Technical Analysis is based on the study of technical indicators. Below, we have outlined the key factors that contributed to our Qtum price analysis.
Qtum is an open-source blockchain platform that allows multiple virtual machines while leveraging the security of UTXO. Moreover, it is Proof-of-Stake (PoS) based, and it utilizes a Decentralised Governance Protocol (DGP), which enables certain blockchain settings to be changed through smart contracts.
More so, the Qtum contains few unique features, such as the ability to decide its block size without the need to perform smart forks. This also indicates that the project is very scalable, however, it can grow its blocks to utilize any amount of transactions.
Qtum also has its native QTUM coin. In addition, the cryptocurrency reached its all-time high of $99.87 on January 7, 2018. Since then QTUM price has struggled a lot, never quite managing to return to its former heights.
How is QTUM Different from Other Cryptocurrencies?
Qtum was created with three separate layers. These layers include a fork of the Bitcoin core chain, Ethereum’s Virtual Machine, and the Account Abstraction Layer. The Account Abstraction Layer functions as the bridge between the Bitcoin core chain and Ethereum’s Virtual Machine to communicate with each other.
Now that we have got to know the details of QTUM, do you think QTUM will be profitable crypto in 2021? Let’s see in this QTUM technical price analysis.
Qtum Current Market Position
As of writing this Qtum technical analysis, QTUM is at $11.59 with a 24-hour trading volume of $887,458,648. The price has increased by 9.38 % in the last 24 hours.
QTUM Coin has a current circulating supply of 98,259,197 QTUM. The total maximum supply of QTUM is 107,822,406. Moreover, QTUM can be traded on Binance, and Huobi Global cryptocurrency exchanges to name some. Now, let’s proceed to the next part of this QTUM technical analysis 2021.
Qtum Technical Analysis 2021
Currently, QTUM holds 87th place on CoinGecko. But will the latest upgrades, development, and changes in the QTUM blockchain help the cryptocurrency’s price to reach higher? Let’s proceed to the charts in this QTUM price prediction article.

Based on the chart above, the daily time frame chart shows the Ascending Channel pattern. An Ascending Channel is the price action that happens between upper sloping parallel trendlines. In addition, higher highs and higher lows form this price pattern.
Moreover, technical analysts develop an ascending channel by drawing a lower trendline that joins the swing lows and an upper channel trendline that connects the swing highs. As shown above, at the beginning of this period, QTUM turned from a bearish trend to bullish. This is a result of the vast trading volume that happened in that period.

When it comes to Moving Average Convergence/Divergence (MACD), the MACD continues to reside below the signal indicator. In short, traders can still expect bearish days ahead. On the contrary, if the MACD begins to move up and performs a bullish crossover with the signal indicator, it will be a different story.
Meanwhile, the relative strength index (RSI) of QTUM is at level 65.87. To explain, the crypto is nearly oversold. In this situation, traders such as scalp and day traders must trade with caution to avoid being hit by a possible price reversal.
The below chart shows the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of QTUM.

Since the start of 2021, QTUM’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidations, and corrections right away. Taking this into consideration, QTUM has a competitive market in 2021.
Conclusion
Qtum 2021 technical analysis shows that the cryptocurrency has a bright future ahead in 2021. Also the project looks promising as it has high aims, clear goals, and a use case that targets a broad market.
Bullish Qtum price prediction 2021 is $30. As said above, it may even reach its all-time high price if investors have decided that Qtum is a good investment in 2021. Furthermore, together with increasing adoption, positive price predictions, and a community composed of thousands of retailers, QTUM is likely a promising investment this year.
FAQ
QTUM is a decentralized application platform compatible with existing blockchain infrastructure.
Users can purchase QTUM tokens from the cryptocurrency exchanges such as Huobi Global or Binance.
QTUM is a good investment in 2021. However, QTUM has a high possibility of surpassing its current ATH at about $99.87 this year.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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