6 months ago
29
The price of QTUM has been moving sideways over an extended period, resulting in the formation of a cup and handle pattern on the price charts. This pattern indicates a bullish phase and the price in the future may increase significantly. If a breakout occurs on the handle, it could lead to an immediate price increase, which would mean remarkable profits for the traders.
Crypto analyst Coinpedia recently pointed out on X that the bullish formation of QTUM indicates a massive price rally soon. The cup and handle pattern starts when the price increase reaches a peak, thus forming a cup shape. After there is a sideways pause in the trading, a peak is reached, which completes the handle. This phase allows traders to accumulate more and makes the breakout ready.
Coinpedia Market claims that right after the breakout, the first target for the price of QTUM is set to approximately $6.156. A second price target of $12.435 has been set by Coinpedia Markets prediction on X, as the analysts put it ‘challenges the QTUM price to increase multi-folds’.
Although the target seems to be a stretch, there is good reason to believe that the cup and handle pattern may cause the price of QTUM to experience a meteoric movement. Being an investor, it will surely pay to be patient.
It is still very important to keep in mind that the Cup and Handle pattern is a bullish signal, it is key to also understand that past performance is not indicative of future results. Trading has its risks and considering factors such as market sentiment, the overall market for crypto, and regulation for QTUM can play a huge role in determining the outcome.
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