QSP/USD Analysis
Updated
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Let's look at the latest Daily chart of QSP/USDT(Binance) pair:
Bullish Case:
Quantstamp pair has been moving in a tight range between $0.012 and $0.016 since month of December'2018 and signifies a possible accumulation.It has surged 23%+ in the February'2019 month from $0.013 price level.Its testing a major downtrend line , breaking it will be bullish(buy signal) for the asset.
The preliminary resistance level would be the next area of interest because it needs to break for further bullish sentiments and momentum.
Simply put, if someone wants to buy then can buy near $0.013-$0.011 price level for targets around red bars or upcoming resistance levels. However, risk taker can enter at the present price level for long term benefits.
Bearish Case:
Bearish signs cannot be ignored completely on the pair's Daily chart time frame. It has touched the Ichimoku cloud resistance but couldn't accelerate through it and trading below it. Also, Breaking down the $0.011 support level will be strongly bearish(sell signal) for the pair. The MACD indicator and Stoch-RSI is curving down as well.
Let's look at the latest Daily chart of QSP/USDT(Binance) pair:
Bullish Case:
Quantstamp pair has been moving in a tight range between $0.012 and $0.016 since month of December'2018 and signifies a possible accumulation.It has surged 23%+ in the February'2019 month from $0.013 price level.Its testing a major downtrend line , breaking it will be bullish(buy signal) for the asset.
The preliminary resistance level would be the next area of interest because it needs to break for further bullish sentiments and momentum.
Simply put, if someone wants to buy then can buy near $0.013-$0.011 price level for targets around red bars or upcoming resistance levels. However, risk taker can enter at the present price level for long term benefits.
Bearish Case:
Bearish signs cannot be ignored completely on the pair's Daily chart time frame. It has touched the Ichimoku cloud resistance but couldn't accelerate through it and trading below it. Also, Breaking down the $0.011 support level will be strongly bearish(sell signal) for the pair. The MACD indicator and Stoch-RSI is curving down as well.
Note
First Target-Reached
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