- QNT token price is in a strong uptrend as it broke the small resistance and now it is consolidating.
- The token price is forming a flag and pole pattern in a 4-hour time frame.
- The pair of QNT/BTC is trading at the price of 0.0052 with an increase of 2.79% in the past 24 hours.
The QNT token price, as per the price action, is in a strong bullish trajectory. As seen in the daily time frame the QNT token price has broken the small-term supply zone. While on the 4-hour time frame the QNT token price is trading at the long-term supply zone. Recently, the QNT token price has broken an ascending triangle pattern suggesting bullish momentum in the price of the QNT token. The QNT token price is now resting above the breakout zone for a retest. The breakout of the supply zone was with a strong bullish candlestick formation. As a result, the token continued the bullish trend after the breakout. Recently, it started falling for a retest. The QNT token price has gone past the important moving average of 50 and 100. As the token price moves up, the bullishness has pushed the price to the upper band of the Bollinger band indicator. Moving forward the token price can be seen resting at these MAs. The QNT token price has started forming higher high and higher low formations on a daily time frame. Volumes have increased as the token price broke the important supply zone. Investors should remain cautious at the time. Price can be seen showing massive moves on either side.
The QNT token price is forming a flag and pole pattern on a 4-hour time frame
Moving Average Convergence Divergence: MACD indicator has given a negative crossover as the token gave a breakout of the small supply zones on a 4-hourr time frame. The orange line crossed the blue line on the upside. This has resulted in the token price moving down steadily. Recently the QNT token price fell after the breakout of small resistance, as a result, the MACD indicator also depicted the same on a daily time frame. Once the token price starts moving up again after retesting, the MAC line can be seen turning positive supporting the trend.
Average Directional Movement Index: ADX has been continuously rising as the token price broke an important supply zone of $110.00. As of now, the token price is trading above this important demand zone. The breakout zone is now acting as a strong demand zone. At present, the token price is trading at $126.508. ADX curve has dipped out of the 20 mark on a daily time frame.
Supertrend: The QNT token price rose above the supply zone with a strong bullish candlestick pattern. The token broke out of the super trend sell line which triggered the buy signal. As of now the QNT token is trading above the super trend buy signal line. Going forward this line could act as a strong support zone.
CONCLUSION: The QNT token price is super bullish on daily time frames. The technical parameters suggest the same. As per the price action, the token seems ready for another round of bullishness as it forms a bullish flag and pole chart patterninn a 4-hour time frame. It remains to see if the token price will break the flag and poor pattern on the upside or fail to do so.
SUPPORT: $110 and $112
RESISTANCE: $135 and $139
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.