QNT Technical Analysis: EMAs Choke The Trendline Breakout Rally

Key technical points:

Past Performance of QNT

QNT price shows a reversal from the $100 mark and breaks above the long-coming resistance trendline with a growth of 15% last week. The lack of bullish momentum and the struggle to surpass the 50-day EMA reflects the possibility of a reversal.

However, the reversal expectations were high as a retest of such a significant trendline breakout is normal. Hence, the bulls may find demand near the retest and surpass the $125 mark. 

Source-Tradingview

QNT Technical Analysis 

The potential lower price rejection near the resistance trendline can be an excellent entry point for QNT bulls. The rally might surpass the 50-day EMA and test the $160 milestone that will result in a jump of almost 25%.

The crucial daily EMAs project in the bearish alignment with a falling trend. Moreover, the constant rejections from the 50-day EMA hint at a high supply area moving along that may soon press the price below $100. Therefore, the breakout of the 50-day EMA will release the trapped bullish momentum.

The MACD indicator shows the merged MACD and signal lines regain the bullish alignment and head higher to enter the positive territory. The recent crossover undermines the previous failed bearish attempt and hints of a rise in buying pressure. 

The RSI Indicator slope rises above the central line and sustains above the 14-day average indicating a rise underlying bullishness. However, the RSI slope shows no significant divergence in the price action. 

In short, QNT technical analysis showcases an amazing buying opportunity, if the bulls play their cards right. 

Upcoming Trend

QNT coin price will generate an excellent buying spot with the retest of the trendline breakout. However, safe traders can even wait till the 50-day EMA to avoid a bearish downfall. In case of a bullish continuation, the uptrend can reach $160, otherwise, if the bulls succumb within the trendline, the $100 breakout is possible.

Support Levels: $100 and $92

Resistance Levels: $125 and $160