- QNT Token price finds support near the long-standing support trendline in the daily chart.
- The solid support of the 50-day EMA pushes the price higher again.
- The pair QNT/BTC trades at 0.00228 BTC with an intraday fall of -3.21%
QNT token price faced rejection near the $90 mark that led to the short-term retracement in the token price. The retracement resulted in the downfall of 30% in the token price.
However, the long-standing support trendline moving along with a strong support area helped the price find demand and continue to form a higher low. The token may shortly rise higher as the formation of the morning star pattern is near completion.
The coin price is trading above all the significant EMAs in the daily time frame representing that uptrend is intact. The coin price may soon hit and rise above the $100 mark if the buying pressure increases.
Investors may find it beneficial to wait till the level of $78 is successfully retested by the price before taking an early entry in the coin.
Presently, the QNT token price is at $73.56, with a +3.69% jump in market cap within the past 24 hours. Furthermore, the intraday trading volume of the coin has shrunk around 22% projecting the number of buyers is low.
QNT Token Barely Manages To Sustain Above the $65 level.
QNT token price breached the $65 mark and found demand near the 55 mark that pushed the price back above the support trendline. The sudden jump in buying pressure led to the long bullish engulfing candle.
The coin price is above the 50 and 200 EMA in the 4-hour technical chart projecting strong bullish signals. Moreover, if the price sustains above the $78 mark the bulls might be able to rise above the $100 peak.
The RSI indicator (bullish) projects a growth in underlying bullish sentiments as the RSI line spikes up and heads back towards the overbought zone. Nonetheless, the line is still within the neutral area, projecting some underlying bearishness left in the chart.
The ADX indicator projects a rise in trend momentum as the support trendline pushes the price higher.
CONCLUSION- The solid support trendline has pushed the QNT token price higher above the $65 support level. If the bulls manage to sustain the price above the $78 mark then investors may soon observe the token price hit the century mark.
Support – $65, $55
Resistance – $100