The QNT coin price shows a bullish spike as the bears take a breather after the 30% fall last fortnight. Will this spike surpass the resistance trendline?

The QNT coin price shows a 10.64% spike with the latest daily candle, resulting in the bullish engulfing candlestick, which undermines last week's fall of 20%. However, the previous downfall of 30% due to the rejection near the $150 mark still maintains a downtrend influence. Will the recent spike overcome this bearish influence?
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">The QNT coin price sustains above $100.</li>
 	<li style="font-weight: 400">The altcoin price approaches the 50-day EMA.</li>
 	<li style="font-weight: 400">The 24-hour trading volume in the Quant token is $71 Million, indicating a 72% rise. </li>
</ul>
<h2>Past Performance of QNT</h2>
The QNT price maintains a downtrend of 72% from September 2021 after facing a massive supply near the $400 mark. The price action generates a descending trendline that has kept the bullish growth in check resulting in lower highs formation. 

Currently, the market price of the QNT token is $118, with a 10.42% spike in the last 24 hours. Moreover, the 72% jump in the intraday trading volume showcases a rise in the underlying buying pressure. 

<img src="https://s3.tradingview.com/snapshots/n/NwMsHTUE.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/NwMsHTUE/">Tradingview</a>
<h2>QNT Technical Analysis </h2>
After forming a bottom near $90, the QNT coin price has been on a rally of 60% approaching $150. However, the failure to surpass the resistance trendline brings the prices closer to $100. 

The crucial 50, 100, and 200-day EMAs maintain a bearish alignment in the daily chart, with the 50-day EMA providing dynamic resistance to the downtrend. However, the breakout of the 50-day EMA will result in a rally to $200.

The RSI Indicator shows a spike in the slope as it approaches the support trendline below the 50% mark. The spike in slope attempts to surpass the 14-day SMA, which, if successful, will result in a bullish uprise. 

The MACD indicator shows a sharp reversal in the MACD line, indicating an attempt to reverse the recent bearish crossover. However, the lines must surpass the zero mark to indicate a bullish signal.

In a nutshell, the QNT technical analysis marks the possibility of a bullish reversal to the resistance trendline.
<h2>Upcoming Trend</h2>
The QNT coin price anticipates a short-term bullish trend as the bears take a rest after the recent downfall. However, traders can gain a bullish trend till the resistance trendline. As for the possibility of a trendline breakout, traders must wait for the price action confirmation.

Support Levels: $100 and $92

Resistance Levels: $135 and $160

QNT Technical Analysis: Breather For Bears Brings Trend Reversal Hope

The QNT coin price shows a bullish spike as the bears take a breather after the 30% fall last fortnight. Will this spike surpass the resistance trendline?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;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.

QNT Technical Analysis: Breather For Bears Brings Trend Reversal Hope

Top Picks