Information:
This is a cryptocurrency that uses poof of stake consensus, and combines Ethereum´s smart contract with the security of Bitcoin´s unspent transaction output model (UTXO) with a goal of becoming the crypto coin for business focused dApps, meaning that with a higher security between transactions has Qtum the vision to develop dApps at a higher scale.
Signals:
Position: Long
Entry price: 13,772
Target price1: 17,306
Target price 2: 20,474
% gain: P1 = 30% P2: 48%
Indicators:
MACD: The MACD indicator indicates that an upwards trend is starting and that there is bullish movement where the MACD line has passed the signal line and the histogram is opening.
RSI: The RSI line is above 30 at 60,20 but below 70 which indicates that the token is moving forward at a high pace and there might be signs of the token being overbought.
DMI: The ADX line is at 23.57 meaning that we have a trending market in that we have an ADX above 20 but the ADX has not yet to hit 25 in which it would indicate on being a strong trending market. However does the +DI indicate on continuation in this bullish trend.
Fear and Greed: This indicator would indicate that the market has come out from a period of extreme values of fear where the index has stabilized back to its neutral levels at around 47.
Analysis:
The analysis indicated on bullish signals and a trending market and the general positive outlook with more positive mentions in social media showing that a long period is preferred, but only for a short timeframe because of the Fear and Greed Index indicating on somewhat greedy investors and a price correction after the RSI showing stronger signal of the token being overbought.
Not a financial advice
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