The price for QASH should start to heat up over the next few days as the Gram token sale draws closer - scheduled for July 10th. The upcoming offering from Telegram is exclusively hosted by Liquid - an exchange platform with discounts for fees through QASH.
Those who are verified Liquid users can take part in the sale - with QASH holders receiving discounted rates. As QASH holders receive benefits during this upcoming sale - we could see investors starting to buy up QASH in the run-up toward the sale which should see QASH rise and hopefully create a fresh 2019 high.
QASH is presently ranked in the 115th position amongst the top cryptocurrency projects by market cap value as it holds a $52 million market cap value. The cryptocurrency had seen a decent run during June 2019 after rising above the $0.15 level to meet resistance at the 200 day EMA. QASH was unable to break above the 200 day EMA and is still struggling to break above today.
Looking at the daily chart above we can see that WASH had started to rebound from the 2019 low during February at around $0.06344. The market then went on to surge by a total of 158% during February and March but had ran into resistance at a bearish .618 Fibonacci Retracement level (drawn in black) priced at $0.1632. This bearish Fibonacci Retracement level is measured from the December 2018 high to the February 2019 low.
QASH - still to this day - has been unable to break above the highlighted level of resistance. We can see that during June 2019, QASH had rebounded from support around $0.105 and went on to climb further higher into resistance at the 200 day EMA around $0.15 - where it currently trades today.
Where Can We Head From Here?
If the buying increases over the next few days, we can expect QASH to break above the 200 day EMA resistance level. The next level of resistance above this is then expected at the 2019 resistance at $0.1632. If the bulls can continue to break above here and create a fresh 2019 high - further resistance toward the upside is then located at $0.1737, $0.19 (bearish .786 Fib Retracement), $0.204 and $0.22500.
Alternatively, if QASH fails to break above the 200 day EMA and drops lower we can expect immediate support to be located at $0.15 and $0.14. Beneath this, further support can be expected at $0.135 (100 day EMA) and $0.13.
Hopefully - the Telegram sale will generate some sort of demand for QAS due to the incentive of discounts received during the Gram sale. The 200 day EMA resistance level will be the first level to break above which is then followed with stronger resistance at $0.1621.