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Vikram
Aug 13, 2022
by Vikram

QNT Technical Analysis: QNT Prices Prep Bear Cycle Within Wedge

QNT Technical Analysis

Table of contents

  1. QNT Technical Analysis
  2. Upcoming Trend
The QNT price action prepares a bearish reversal possibility within a rising wedge pattern teasing a price drop to the support trendline close to $120.

Key Technical Points:

  • The Quant (QNT) price has increased by almost 66% in the last month.

  • The 50 and 200-day SMA are on the verge of a bullish crossover.

  • With a market cap of $1.51 billion, the intraday trading volume of Quant has dropped by 12.57% to reach $25 million.

    • Past Performance of QNT

    The Quant (QNT) price shows a bullish reversal from the $43 support level to exceed all the crucial bearish SMAs in the daily chart. The bull run accounts for a 200% jump over the past two months to reach the overhead resistance at $130. Moreover, the price action has recently taken the shape of a rising wedge pattern with the formation of an ascending resistance trendline. Currently, the prices trade near the resistance trendline, maintaining a sideways trend and teasing a potential bear cycle.

    TradingView Chart

    Source - Tradingview

    QNT Technical Analysis

    The higher price rejection candles struggling to rise above $130 take a lateral shift within the rising wedge pattern. Hence traders can expect a bear cycle with a 6-7% drop testing the support trendline. Moreover, the increasing bullish gap between the 50 and 100-day SMA projects the possibility of a golden crossover.

    The daily RSI slope maintains a diagonal trend with bearish inclination crossing below the overbought boundary and a 14 days average line. Furthermore, the declining bullish gap between the fast and slow lines warns of a bearish crossover in the MACD indicator.

    In a nutshell, the QNT technical analysis displays a strong bearish influence, warning of a potential downtrend.

    Upcoming Trend

    If the QNT price trend gains bearish momentum, traders can expect a downtrend to the $115 mark to test the support trendline.

    However, a bullish trend continuation cracking above the $133 resistance level might test the psychological mark of $150.

    Resistance Levels: $133 and $150

    Support Levels: $120 and $100

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    QNT QUANT QNT Technical Analysis
    QNT Technical Analysis: QNT Prices Prep Bear Cycle Within Wedge
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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