Qtum Soaring By 9% Today, Promising Times Ahead For The Project - Qtum Price Analysis. Thursday, October 18th
Qtum Soaring By 9% Today, Promising Times Ahead For The Project
Qtum has been going through a stable couple of weeks, seeing almost a month of sideways action. This means that the demand and the supply are quite almost balanced.
Even when the markets dramatically fell on October 11, the losses for Qtum were significantly lower than for other coins. Qtum in this particular period dropped from $4.02 to $3.45. Prior to the drop, the coin was trading around $3.70 to $3.80.
The mid-week drop saw the coin find a new position and for most of the week and leading up to today has been trading around $3.60 to $3.80.
Today, October 18, the coin has received great news that has triggered a positive momentum. Amazon Web Services' (AWS) China division has announced they will be partnering with the Qtum project. Similar to what happened with Tron a few days ago when there was speculation of a major partnership deal, prices have soared and reflected the excitement around the project.
At the time of press, Qtum is trading at $3.98 marking an 8.8% price growth in the last 24 hours. For the last one month, the best the coin has positioned itself at is $4.23, this position is now looking possible in the next couple of hours. However, the coin will have to break a major resistance level of $4.02 before reaching $4.23.
Although the project began in 2017, its coin is currently positioned 27th with a market cap of $353,876,779. Its position is expected to improve and its market cap grow as the project continues to spread its wings and demonstrate its capabilities. At the beginning of the year, the coin hit its all-time high of $103 a position many are still optimistic is possible in the near future. For this, the coin will need a sequence of positive triggers and a general positive momentum in the market.
QTUM/USD Price Chart, Thursday October 18th:
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