QNT Technical Analysis: Will QNT Prices Jump Above the $90 Mark?
Table of contents
Key technical points:
Past Performance of QNT
For nearly three months, the QNT/USDT pair was lowering under the influence of a descending trendline. As a result, the downfall plummeted the altcoin to a low of $41.16 on June 13th. However, amid improving market sentiment, the coin price bounced back from the new support and breached the dynamics resistance on June 20th.
Source- Tradingview
QNT Technical Analysis
The post-retest rally was accentuated by three consecutive green candle registers, a gain of 22.6%. Furthermore, QNT price is up 10% today and tease another bullish breakout from $61.5. The DMI indicator shows the DI lines regaining the bullish alignment, and the ADX line prepares an upside reversal signifying a rise in the bullish trend. Hence, traders can expect a bullish trend to continue to reach the $80 mark.
The RSI indicator shows a bullish trend exceeding the 14-day SMA (yellow) and the halfway line. Moreover, the uptrend may shortly reach the overbought boundary adding points to the uptrend continuation possibility. The MACD indicator shows the fast and slow lines regaining a positive alignment ready to surpass the zero line while avoiding bearish crossovers. Hence, the indicator shows growth in underlying bullishness. In a nutshell, the QNT price action forecasts a reversal rally surpassing the $80 mark.
Upcoming Trend
If the coin price provides a daily candle closing above the $61.5 resistance, the intensified bullish momentum would drive the recovery rally to its next target at $86.6. Conversely, a failed attempt to sustain above the $61.5 mark could pull the altcoin back to the $42.6 mark.
Resistance Levels: $80 and $100
Support Levels: $61.5 and $42.6