- Since the token price bounced off the demand zone, the QNT token price has been increasing.
- The QNT token price is now stabilising close to the supply zone where it is currently trading, after strongly breaking it in the past 72 hours.
- The price of the QNT/BTC pair has increased by 1.69% over the previous 24 hours to 0.006547.
The price of the QNT token has just recovered from the demand zone while trending upward. The cost of the token continues to revolve on the supply. However, it has formed a bearish rejection candlestick pattern on a daily time horizon. It has established a daily pattern with a rounded bottom.
The price of the QNT token is producing higher high and higher low forms on a daily time period. After overcoming all short-term barriers, the token price is now trading in the supply zone. The price of the QNT token is presently trading at the upper band of the Bollinger band indicator after recovering from the lower band. The price of the QNT token has risen above both its 14 SMA and 50 MA on a daily time period. It is now sitting at these Moving averages.
Despite recent bullishness, the token price has not yet crossed above the 100 Moving Average. As a result, the token price may experience upward rejection before experiencing a sharp decline. Despite the bullish disaster of the previous day, volumes have dropped. Investors should therefore exercise caution and wait for a distinct trend.
The QNT token price is forming a rounding bottom pattern on the daily time frame
Average Directional Movement Index: As the currency keeps falling, the ADX curve has been dropping on a greater time period. The ADX curve has fallen out of the 20 level and turned higher on a daily time frame. As of a 4-hour time period, the club price is at the short-term demand zone. It is encouraging for the price of tokens. Investors want to hold off until a bullish candle pattern forms in the demand zone.
Relative Strength Index: The RSI curve is now trading at 66.30. The RSI curve has moved over the 50-percent threshold. The RSI curve will begin to move upward after the token breaks out of a rounded bottom pattern on a daily time period. The yellow 14 EMA line has been crossed by the RSI curve, signalling a short-term bullishness.
Supertrend: Supertrend indicator is positive as the token price broke the important small-term supply zone on the daily timeframe. Since then the token price has failed to give a breakout of the supply zone in a larger time frame. As of now, the token price has broken the super trend sell line which has triggered a buy line.
Conclusion: QNT token price has been hovering around the supply zone. The technical parameters suggest a bullish move in the upcoming days. The price action is also suggesting the same. It remains to see if the token price will break the rounding bottom pattern or fall heavily
Support: $128.90 and $122.70
Resistance: $149.70 and $157.80