QNT Technical Analysis: Bulls Dream Of Rounding Bottom Breakout
Quant was launched in June of 2018 with the aim of connecting networks and blockchains at a global level without compromising the effectiveness as well as interoperability. Quant is the first initiative to tackle the issue of interoperability by establishing the first operating system that runs on blockchains.
Quant's primary goal is to create a bridge between various blockchains. The foundation of the Quant project lies in the Overledger network that it claims is the foundation that will be the foundation upon which the next digital economy will be constructed.
Let us move ahead to read about QNT technical analysis.
Past Performance of QNT
The QNT coin price action creates a wave of bullish candles as it rises to compete with the rounding bottom pattern in the daily chart. The prices rise 50% in the last fours days after finding demand near the $90 mark. However, the price struggles to rise above the 50-day EMA and might give a reversal shortly.
QNT Technical Analysis
The QNT coin price action may shortly give a breakout of the rounding bottom pattern as it shows a blunt V-shaped recovery. Therefore, buyers can shortly find a breakout opportunity to ride the upcoming bullish trend.
The crucial Exponential Moving averages shows a bearish alignment of the 50 and 100-day EMA. Due to insufficient data, the 200-day EMA is not available. However, the breakout of the 50-day EMA might shortly give an entry opportunity.
The MACD indicator shows a bullish crossover of the MACD and Signal lines in the negative territory. Moreover, the solid rise in bullish histograms reflects a solid underlying bullishness.
The DMI indicator shows a bullish crossover of the DI lines close to the 20% mark. Moreover, the ADX line sustains above the 30% line reflecting a boom in trend momentum.
In conclusion, the technical indicators showcase a bullish revolt as they attempt another takeover of the QNT price trend.
Upcoming Trend
The QNT technical analysis shows an amazing bullish recovery in the past week as it rises within a rounding bottom pattern. Therefore, the breakout of the neckline at $160 will bring an excellent buying opportunity.
Buyers can find the uptrend approaching the $200 and $250 as the trend gains momentum post-breakout. However, a reversal will drive the prices lower to the $120 or $80 mark.