- QNT Coin is sideways over the daily chart, and investors are waiting for the coin’s recovery.
- The crypto asset is trading at 20 SMA and is behind the 50, 100 and 200-days Daily Moving Average.
- The pair of QNT/BTC is trading at 0.002681 BTC with an intraday loss of 1.49%, whereas the QNT/ETH pair is CMP at 0.03962 ETH with a 24-hour negative change of 2.00%.
QNT Coin price consolidates after making a double bottom pattern over the daily chart. The double bottom pattern describes a change in trend and a momentum reversal from prior leading price action. The QNT coin tried for a bullish reversal but stuck into the consolidation phase. Investors need to wait for any directional change over the daily chart.
QNT coin price is CMP at $117 and lost 0.38% of its market cap value in the last 24-hour period. In the intraday trading session, the trading volume has significantly decreased by 36.27%. The volume to market cap ratio is 0.03564. The token has to recover to test the $155 primary resistance level.
The QNT crypto price is trading in sideways momentum over the daily chart. The bulls need to come over for the rescue of the QNT coin. However, the volume change is below average, which needs to grow for the coin to be completely bullish. Traders need to wait for any directional change over the chart to draw any conclusion in the intraday trading session. The token needs to get away from the trap of short sellers in order to enter a strong upward momentum.
What do Technical Indicators Suggest?
The technical indicators confirm the sideways momentum of the QNT coin. Relative Strength Index forecast neutrality for QNT coin. RSI is at 48, and any directional change can be expected above 50.
MACD showcases the sideways momentum of the QNT coin. However, after a positive crossover MACD line is ahead of the signal line, which hints at a strong uptrend on the way.
A significant or minor decline in securities is always followed by a double bottom pattern, which predicts a reversal and the start of a potential upswing.
Conclusion
QNT Coin consolidates over the daily chart. Investors eagerly wait for the coin’s recovery till the primary resistance level. The double bottom pattern over the daily chart hints towards a strong uptrend is on the way for the QNT coin. Bulls can push the token to 155 for the sake of recovery. Looking upon the current market scenario, bears may try to pull back the QNT coin in the meantime.
Technical Levels
Support Levels: $93 and $65
Resistance Levels: $155 and $200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.