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Vikram
Aug 24, 2022

QNT Prices Skyrocket With Golden Crossover, Hint At A 20% Jump

QNT Technical Analysis
The Quant (QNT) technical analysis shows a bullish reversal from the golden crossover of the 50 and 200-day SMA, teasing an uptrend to the $135 mark.

The QNT price trend shows a bullish turnaround from the 200-day EMA falling below the support trendline, while the 50-day EMA supports the uptrend. Since the weekend, the prices have jumped by 12% resulting in the $106 breakout. But, will this uptrend continue to reach the overhead resistance at $135?

Key Points:

  • The QNT market price shows a bullish reversal from the 200-day SMA.
  • The MACD indicator projects a potential bullish crossover teasing a trend reversal.
  • With a market cap of $1.33 billion, the intraday trading volume of Quant has increased by 8.82% to reach $29.90 million.
  • TradingView Chart

    Source - Tradingview

    QNT Technical Analysis

    After displaying a phenomenal bullish trend of 162% between July and mid-August, the QNT prices break below the support trendline. After facing opposition from the $130 mark, and overhead resistance trendline, the prices dropped by 22% to take support at the 200-day EMA.

    However, the golden crossover of the 50 and 200-day EMA halts the falling prices resulting in a bullish turnaround. With the increased demand at the supporting 50-day EMA, the market value has recovered by 12% within the last four days.

    With the QNT prices sustaining above the $106 level, the possibility of an uptrend to the $133 mark increases. However, an increase in selling pressure might result in a retracement to test the 200-day EMA below the psychological mark of $100.

    Technical Indicators

    The RSI indicator displays a sideways trend near the halfway line after a reversal from the nearly oversold zone. Hence the technical indicator shows an improvement in the underlying bullishness.

    Moreover, the fast and slow lines in the MACD indicator show a decline in the bearish gap teasing a bullish reversal. Hence, the technical indicators support the uptrend possibility in the QNT prices.

    Resistance Levels: $115 and $135

    Support Levels: $100 and $85

    QNT Prices Skyrocket With Golden Crossover, Hint At A 20% Jump
    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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