Quantstamp Short Term Potential

Quantstamp seems to have formed a bottom at $0.025, which has been tested on the 12th of September. Since then price started to move up in slow waves producing higher highs and higher lows, reaching $0.038 high.

The recent corrective wave brought the price down to $0.03 area, where QSP/USD rejected the 61.8% Fibonacci retracement level and price started to move up once again. Considering the recent price action, the upside momentum is likely to continue and if the recent high at $0.038 will be broken, next stop could be at $0.062, that is 61.8% Fibs level.

It is also possible that prior to the uptrend price will consolidate, but only break and close below the $0.24 would invalidate bullish outlook.

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