as the volume of trade QuantStamp (QSP) Price action has slowed down somewhat over the past two days. It looks like the coin is trying to consolidate last week’s gains before trying to rise again. But how far can it really go? Well, we will discuss this further, but first, here are the latest developments:
-
The QSP is up about 83% from its lowest price in 2022.
-
The coin is also trading well above its 25- and 50-day moving averages.
-
Despite this, Quantstamp is still charged $0.1 . Facing great resistance before breaking up to
Data Source: Tradingview
Quantstamp (QSP) – $0.1 . way of
The biggest threat to the QSP bulls is that the coin has actually turned upside down after hitting its lows this year. In fact, the price is almost double from its lowest level in 2022 and as such, the QSP may be set for a correction. Despite this, other indicators are showing an uptrend.
For example, the QSP is now trading above its 25- and 50-day SMAs. This indicates a significant bullish alignment. Furthermore, the coin has posted consolidated gains in the recent past, something that suggests that people are not selling. What is left now is for the bulls to attempt a break above the $0.078 resistance area.
QSP is still a bit ahead of that. However, if the price action pushes above that area, $0.1 will be the next stop. As a result, QSP can offer a hike of around 45% from its current price.
QuantStamp (QSP) – Should You Go Short or Long?
As a long-term asset, Quantstamp is actually a very good buy. The coin has incredible underlying core elements and has to be perfect. But there is also a very good short term play here that can make a great profit.
$0.078 is key, and if QSP manages to break it, there is enough upside to deliver at least 30% in additional gains.