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Vikram
Jul 12, 2022

QNT Technical Analysis: Will Quant Prices Continue To Grow This Week?

QNT Technical Analysis
This QNT Technical Analysis shows that the QNT price exceeds the declining resistance trendline but struggles to display a post-retest reversal. Will buyers succeed in regaining trend control?

Key Technical Points:

  • QNT prices have increased by 6.98% in the last 24 hours.
  • The price action shows a retracement to retest the 100-day SMA breakout.
  • The 24-hour trading volume of Quant is $66 Million, indicating a drop of 26%.
  • Past Performance of QNT

    As mentioned in our previous article, the QNT price shows a phenomenal bullish growth in the first week of July and even surpasses the $75 mark. The bullish growth exceeds the 50 and 100-day SMA to reach the $90 resistance level. However, the daily chart displays a retracement to retest the $75 breakout along with the 100-day SMA.

    TradingView Chart

    Source- Tradingview

    QNT Technical Analysis

    The QNT prices regain the bullish alignment with post retest reversal from the 100-day and tease a morning star pattern formation. Hence, with the restarting bullish trend, the likelihood of a price jump to the $100 resistance level increases drastically.

    The MACD indicator shows a bullish growth in the fast and slow lines as they sustain in the positive territory. Furthermore, the RSI indicator shows bullish growth, trying to re-enter the over territory after dipping into the 70% boundary. Hence the momentum indicators maintain a bullish outlook and forecast a price jump to the $100 resistance level.

    As for the SMAs, The price jump sustains above the 100day SMA line And prepares a bullish jump to the 200-day SMA accounting for a price jump of 33%.

    In a nutshell, the QNT technical analysis forecasts a high likelihood of a bullish trend continuation ready to exceed the psychological mark of $100.

    Upcoming Trend

    If the buyers managed to surpass the overhead resistance at $87, a price jump exceeding the $100 mark to test the 200-day SMA at $107 seems inevitable.

    Resistance Levels: $87 and $100

    Support Levels: $75 and $60

    QNT Technical Analysis: Will Quant Prices Continue To Grow This Week?
    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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