NewsletterA Bullish Pattern Sets Quant Price On 18.5% Growth; Buy Now?
The Quant price daily chart shows the completion of an ascending triangle pattern. As per the technical setup, the pattern offers a target of the same distance between the neckline and the lowest swing low shot from the breakout point. Thus, the recent breakout from this pattern should assist buyers in surpassing the $150 mark.
Key points:
- A rising trendline maintains the ongoing recovery in Quant price
- The recently reclaimed EMAs(20, 50, 100, and 200) should offer additional support for prices to jump higher.
- The intraday trading volume in the Quant is $48 Million, indicating a 60% gain
Source-Tradingview
Amid the recent consolidation in the crypto market, the Quant price resonated in an ascending triangle pattern. Moreover, the coin price thrice tested the pattern’s support trendline and neckline resistance of $128-125, indicating that traders strictly respond to its technical setup.
In theory, this bullish continuation pattern indicates a gradual growth in buying momentum, as prices are rising with the support of ascending trendline. Furthermore, on December 2nd, the QNT price gave a decisive breakout from the $128 neckline, triggering the aforementioned pattern. This breakout with a significant volume rise, indicating the buyers are aiming to reclaim a higher price.
Today, the Quant price retested the breached resistance and continued with a post-retest rally. Currently, the altcoin trades at $132.2 with an intraday gain of 1.3%. However, with sustained buying, the price should surge 18.5% to reach the $157 resistance.
On a contrary note, if the coin price reverts lower and breaches the support trendline, the bullish thesis will get invalidated.
Technical Indicator
Relative Strength Index: the daily-RSI slope jumps above the neutral line, indicating the market sentiment holds a positive outlook for Quant coin price.
EMAs: Along with the pattern’s neckline resistance, the rising price breached a cluster of crucial EMA(20, 50, 100, and 200). In addition, these EMAs wavering at the $128 mark heightens the importance of this reclaimed horizontal level.
Quant intraday price levels
- Spot price: $132.6
- Trend: Bullish
- Volatility: Low
- Resistance level- $147-145 and $157
- Support level- $111.5 and $100
- December Recovery Ahead? Coinbase Outlines Why Crypto Market May Rebound
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- CoinShares Fires Back at Arthur Hayes, Dismisses Fears Over Tether Solvency
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
