- QNT shows strength rising the gains above the near hurdle.
- Bulls attained momentum in the last trading sessions.
Quant price was breaking its critical downward-sloping trendline and began a trend reversal move. Moreover, the volume increased sharply after a long time, showing buyers are now active and trying to attain authority from the hands of mighty bears.
Moreover, on the support mark, bulls formed a hammer candlestick, and just after that, a bullish marubozu candle formed in the last trading session, showing the strength of bulls, which persisted in riding the reversal.
Quant was under the corrective phase from the previous month and gradually showed a down move from the supply zone of $165. Although bulls did not lose too much strength, and again came into action by rescuing the muscles in the last trading sessions. However, the mighty bears try to break the buyers momentum near the 50-day EMA but cannot.
When writing, Quant coin trades at $112.45 with a massive intraday gain of 5.32% showing bullish indications. Moreover, the pair of QNT/BTC is at 0.00403 BTC, and the intraday trading volume was increased by 2.00% to $34.26 million. The day high of QNT is $113.83, and the day low is $106.79. The market cap of Quant is $1.10 billion.
Daily Chart Shows a Breakout
On the daily charts, QNT showed a breakout and began to trade above the 50-day EMA, which was a substantial hurdle in the past sessions. However, there were multiple hurdles positioned there but bulls decisively. In the past week, there were headwinds there.
QNT broked the strong support of $100 but soon showed a pullback from $96 after buyers put in efforts and continued accumulating from the previous week to meet the gains. The sellers were looking trapped in the last up move above $110, which was grabbed by bears but now looked beat. Moreover, a short covering was noted when QNT pulled back from $100.
Short Term Chart Shows Massive Buying
On the 4-hour charts, Quant coin shows a massive bounce, breaking out of the trendline and escaping above the 50-day EMA. Moreover, the breakout was registered with an enormous spike in volumes, showing that mature players were involved in this bounce for further trend reversal indications.
The RSI flew above the overbought zone and showed massive buying in the intraday session, with a positive crossover noted in the index curve.
The MACD indicator showed a bullish crossover in the past trading sessions and floated green bars on the histogram.
Conclusion:
Quant coin broke the immediate barrier of $110 and stayed above the 20-day EMA, suggesting an upcoming bullish trend.
Technical levels
Support Levels: $110 and $100
Resistance Levels:$125
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.