- QBT stock price is trading at 1.568 GBX.
- The company stock has given the breakout of the parallel channel.
Qunatam Blockchain Technologies (LSE: QBT) company was founded by Stewart Dodd and Noah Freedman in September 1999. The company deals in research & development and investment programme in the world of blockchain technology. It includes crypto mining and other advanced blockchain applications. The firm offers services like Mining software, Mining Hardware, and Mining pool and data service.
Qunatam Blockchain Technologies (QBT) Stock: Technical Analysis
In January 2023, after a strong bullish rally, the price got exhausted and started falling from 2.325 GBX. The price formed support of 1.388 GBX and again commenced a bullish rally to 2.352 GBX.
After reaching 2.325 GBX the price again faced rejection from that level only and made 2.325 GBX as a resistance level. The price taking rejection from 3.325 GBX the price was seen falling there to 1.338 GBX. The price was again seen starting to move in the upward direction. After a point, the price started falling and started moving in a downward direction in a parallel channel.
In August the price closed below the 1.338 GBX support level. However, the buyers overpowered the sellers and reclaimed the 1.388 GBX support level. The breakdown was turn into a fakeout. The price again started to move in the upward direction after reclaiming the 1.388 GBX support with a strong green candle.
With a strong green candle not only did the price reclaim the 1.388 GBX support but also gave the breakout of the parallel channel.
Currently, the price is trading and sustaining above the parallel channel. Now If the price is sustain above the parallel channel and also breaks the 1.884 GBX resistance. Then the price can be see commencing a bullish rally to 2.325 GBX in the future.
Technical Indicators’ Prediction About the Current Trend
The 50 EMA (yellow line) is at 1.482 GBX and the 200 EMA (red line) is at 1.602 GBX. The price of Qunatam Blockchain Technologies is currently trading between 50 and 200 EMA. This indicates that Qunatam Blockchain Technologies Stock price is indecisive and is currently taking pressure from the buyers as well as sellers.
The relative strength index (RSI) is at 61.22. The RSI is in bullish sentiment showing the buyers are dominating at the current scenario.
Conclusion
The Qunatam Blockchain Technologies Stock price is in bullish sentiment at the time of writing. The price has just given the breakout of the parallel channel and is sustaining above it. All the indicators mentioned above are neutral or bullish. Traders should wait for the price to close above the 200 EMA then all the indicators will be bullish.
Technical levels
Resistance levels: 1.884 GBX and 2.235 GBX.
Support levels: 1.388 GBX and 1.232 GBX.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
