QNT Technical Analysis: Quant Prices Struggle To Float Above $50
Table of contents
Key technical points:
Past Performance of QNT
QNT price action shows an unfavorable failure of the rising trend line that helped exceed that 50-day SMA after a dramatic 40% increase. Retracement from the 50-day SMA lowers the market value by 20% over the last week. However, the buyers plan to rescue the market at $50.
Source- Tradingview
QNT Technical Analysis
The QNT daily candle displays a lengthy form of wick from the opposite SMA and the mark of $60. This suggests the possibility of sellers overtaking the recovery attempt and dropping the market price to under $50. The MACD and the signal lines display an upward trend that reaches the zero line, but the shrinking spreads suggest an upcoming crossover to return to the opposing alignment. Thus, the indicator reveals an underlying decline in bullishness.
The RSI indicator indicates the slope is recovering after dropping below the halfway line of the 14-day SMA. Therefore, the indicator adopts an optimistic view compared to the MACD and price analysis. Additionally, the massive bullish divergence on the RSI slope suggests buyers an opportunity to reverse their trend. In a nutshell, the QNT technical analysis shows the indicators against the long-wick candle. Hence, traders can hope the buying pressure grows over the day and reaches the $60 mark.
Upcoming Trend
Suppose the QNT prices rise above $60; the uptrend will continue, potentially with an increase in trading volume to reach the $75 mark.
Resistance Levels: $60 and $75
Support Levels: $50 and $45