<em><strong>The QNT price action prepares a bearish reversal possibility within a rising wedge pattern teasing a price drop to the support trendline close to $120.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Quant (QNT) price has increased by almost 66% in the last month.</li>
 	<li>The 50 and 200-day SMA are on the verge of a bullish crossover.</li>
 	<li>With a market cap of $1.51 billion, the intraday trading volume of Quant has dropped by 12.57% to reach $25 million.</li>
</ul>
<h3>Past Performance of QNT</h3>
The Quant (QNT) price shows a bullish reversal from the $43 support level to exceed all the crucial bearish SMAs in the daily chart. The bull run accounts for a 200% jump over the past two months to reach the overhead resistance at $130. Moreover, the price action has recently taken the shape of a rising wedge pattern with the formation of an ascending resistance trendline. Currently, the prices <a href="https://www.cryptoknowmics.com/news/how-to-trade-on-coinsbit-crypto-exchange/" target="_blank" rel="noopener">trade</a> near the resistance trendline, maintaining a sideways trend and teasing a potential bear cycle.

<img src="https://s3.tradingview.com/snapshots/u/uCuicEqi.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/uCuicEqi/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>QNT Technical Analysis</h2>
The higher price rejection candles struggling to rise above $130 take a lateral shift within the rising wedge pattern. Hence traders can expect a bear cycle with a 6-7% drop testing the support trendline. Moreover, the increasing bullish gap between the 50 and 100-day SMA projects the possibility of a golden crossover.

The daily RSI slope maintains a diagonal trend with bearish inclination crossing below the overbought boundary and a 14 days average line. Furthermore, the declining bullish gap between the fast and slow lines warns of a bearish crossover in the MACD indicator.

In a nutshell, the QNT technical analysis displays a strong bearish influence, warning of a potential downtrend.
<h2>Upcoming Trend</h2>
If the QNT price trend gains bearish momentum, traders can expect a downtrend to the $115 mark to test the support trendline.

However, a bullish trend continuation cracking above the $133 resistance level might test the psychological mark of $150.

Resistance Levels: $133 and $150

Support Levels: $120 and $100

QNT Technical Analysis: QNT Prices Prep Bear Cycle Within Wedge

As per the technical analysis, the QNT price action prepares a bearish reversal possibility within a rising wedge pattern, teasing a price drop to $120.

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: QNT Prices Prep Bear Cycle Within Wedge

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