Price Analysis

Can The Fast-Recovering Quant(QNT) Price Surpass The $130 Mark?

High momentum breakout from the $108 barrier provides further growth potential for Quant price, but how far may this rally reach?
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Can The Fast-Recovering Quant(QNT) Price Surpass The $130 Mark?

A V-shaped reversal from $96.7 support triggers a minor relief rally in Quant price. This price rally aligned with a significant volume increase, indicating the buyers are committed to reaching higher prices. However, a cluster of EMAs defending a near resistance of $130 keep the prices under correction threat.

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Key points: 

  • The Quant price offers a decisive breakout from the $206 resistance 
  • A Quant price may give a bearish retest to 100-and-200-day EMA to replenish the selling momentum.
  • The intraday trading volume in the Quant is $142 Million, indicating a 290% gain 

Source-Tradingview

Over the last five months, while the overall crypto market was struggling through a series of high-interest rate hikes from the US Fed, the Quant price outperformed the majority of major crypto coins with a sustained uptrend.

Furthermore, the bullish rally hit a 10-month high of $226 before triggering a correction phase. Amid the recent bloodbath in the crypto market due to the FTX crypto exchange crash, the Quant price extended its pullback to $96.7.

As a result, the retracement phase registered a 57.5% loss since last month. However, with the ongoing relief rally in the crypto market, the altcoin witnessed a sharp recovery of 26.5%. Furthermore, the bullish recovery gave a massive breakout from the immediate resistance of $108.8.

This resistance breakout could offer a suitable launchpad for buyers to bolster the recovery rally higher. With sustained buying, the altcoin should rise 6.5% higher to challenge the $130 resistance. However, the $130 mark would be a crucial barrier for buyers to overcome, as it has a high possibility of resuming the prevailing downtrend. 

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Technical Indicator

MACD: the reducing gap between the MACD and signal line below the neutral zone suggests a weakening of bearish momentum. Moreover, a bullish crossover between these EMAs could further strengthen a bullish recovery.

EMAs: the rising prices may soon retest the recently breached 100-and-200-day EMAs located at $130 resistance. These EMAs offer an additional barrier against the Quant buyers and support the aforementioned bearish thesis.

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Quant Coin Intraday Price Levels

  • Spot price: $122.3
  • Trend: Bullish
  • Volatility: Low
  • Resistance level- $130 and $0.1
  • Support level- $108 and $145.5
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Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

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