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Qtum (QTUM) price has been growing for the better part of this year, ever since the mid-March price crash. However, the coin saw particularly strong growth in the last month and a half, ever since early July. This growth allowed it to reach a new YTD high, and it still continues to skyrocket by around 14.35%.

Qtum started this year significantly lower its current price, back at only $1.6. However, it quickly showed that this will be a good year for the coin by surging rather strongly in January and February. It already exceeded $2 by January 20th, and after a brief correction to $1.9, it surged again, this time to $3.

This was the coin’s highest point in a long time, and it reached it on February 14th, as the entire crypto market peaked, finally announcing the beginning of the bull run that the investors were waiting for since early 2018.

Unfortunately, this was when the situation had turned, and as the price kept dropping, the emerging coronavirus pandemic led to a massive crash all the way down to $1, significantly below the price that QTUM had at the start of the year.

However, after reaching the bottom, QTUM did not stick down there for long. It started growing, and it just kept doing it for the past five months.

It encountered a number of resistances along the way, but it kept overcoming them, one by one. It did see a few rejections, most of which were minor. One did stand out, though. It took place in June, after the coin attempted to breach a resistance at $1.8. The price was rejected to $1.6, but it soon started climbing again.

This was when a lot of investors decided to give QTUM a chance and buy it, and they were no disappointed. Growing demand caused QTUM to surge, and while it was briefly stopped at $2.40, it soon broke this level, and kept surging up, all the way to its current $3.48.

QTUM has been growing for the past five months, with its growth being significantly more rapid in the past 45 days. The coin is now facing a resistance at $3.50, although it likely has a strong enough momentum to breach it.

The post Qtum hits new YTD high as its price continues to surge appeared first on Invezz.

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