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The latest Bitcoin ($BTC) jump past $65K triggered notable upsurges in the altcoin market.
That saw Qtum ($QTUM) recording impressive upticks, which saw it overpowering a falling wedge on the daily chart.
#QTUMUSDT
— Alax Crypto Pro (@Alax_Crypto) July 18, 2024
UPDATE
Falling wedge has already breakout in 1D time frame ✅
Expecting massive Bullish wave 📈#QTUMUSDT #$QTUM #QTUMBTC #$BTC #CRYPTO #$QTUM
$ALICE $DAR $DYM $RPL $TLM $BNX pic.twitter.com/mWENjp7WSJ
The breakout suggests a potential end of a prolonged decline, indicating an upcoming bullish wave for $QTUM.
The prevailing setup points to a more than 70% increase from the current price, taking the $QTUM price above the $4.5 mark.
Recent ecosystem developments and optimistic sentiments in the altcoin market support $QTUM’s anticipated recovery.
June updates from the project highlight crucial progress, including the upcoming Qtum-Ethereum bridge.
Qtum June 2024 Updates: https://t.co/0zE5NMSa9l
— Qtum (@qtum) July 9, 2024
Qtum <-> Ethereum bridge for $USDC stablecoin support has passed 2 audits. Testnet incoming. MetaMask Snap development finished.https://t.co/F2oCmjDvx0 image generator is online, first community event completed. pic.twitter.com/3Ux7RPaj8s
The Qtum-Ethereum bridge
The bridge aims to boost DeFi and Web3 operations on the $QTUM blockchain by integrating stablecoin USD Coin and ERC 20 coins.
We are working on a bridge that will allow Circle $USDC and other Ethereum ERC-20 assets to be bridged to the Qtum blockchain. This will enable DeFi and other Web3 technology to operate better on Qtum, even more than before.
$QTUM’s current price outlook
The altcoin traded at $2.70 during this publication, following a nearly 20% gain over the past week.
Qtum’s daily trading volume jumped 30% to $54.58 million, indicating massive user activity.
Meanwhile, broad market sentiments remain vital in shaping the altcoin’s near-term trajectory.
Bears resurface after the latest recovery, triggering a 1.07% decline in the global crypto market capitalization.
Bitcoin holds steady above $64.5K as bulls fight back, and the bellwether crypto could reclaim yesterday’s high of $65.95.
Qtum 2024 prediction
The altcoin’s current price is way far from the $92 ATH attained in 2018.
Nevertheless, that shows $QTUM has immense growth potential, with movements towards the record peaks translating to massive gains.
Latest trends within the DeFi market and Ethereum-based projects have seen smart contracts flourishing.
Qtum will likely witness increased demand in the financial space. Moreover, its connection with Bitcoin means a robust performance for $QTUM when $BTC touches levels above $100K.
Besides offering a safe and reliable platform for smart contracts development and implementation, the $QTUM blockchain provides services tailored to commercial customers.
Demand from businesses amid broad market rallies will likely propel Qtum to the $6 – $10 price range by 2024-end.
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