NewsletterHere’s Why Quant Coin Price May Rise 16% In Near Future
The Quant price, on a rising streak, challenges the local resistance of $115-$113. With a potential bullish breakout from this resistance, the prices may continue its recovery rally and bolster the formation of a double-bottom pattern. Here’s how this chart pattern may influence the quant coin’s future price.
Key points:
- A double bottom pattern sets QNT price for a 16% rise
- The recent price jump regains additional support of a 20-day EMA to bolster further recovery.
- The intraday trading volume in the Quant is $23 Million, indicating a 95% gain
Source-Tradingview
While the overall crypto is struggling with uncertainty, the Quant price has shown sustained growth since last week. On December 22nd, this altcoin rebounded from the $100 support and triggered a new recovery cycle.
A bullish reversal from the mentioned support has surged the prices 11.5% higher to rechallenge the immediate resistance of $113-115. If the price gives an upside breakout from this resistance, the buying pressure will accelerate, and the traders will get another launchpad level to jump higher.
Therefore, investors believing the QNT market price should rise in the near term they can find entry opportunities with the aforementioned breakout. However, the range between $124 and $115 can be marked as a tough resistance zone. Thus, the traders looking for a safe entry can accumulate above the 1124 mark.
Furthermore, the potential recovery may bolster the formation of a double bottom pattern in the daily time frame chart. This bullish reversal pattern is quite famous at market bottoms and offers a directional rally upon the break out of its neckline.
Thus, under the influence of this chart pattern, the altcoin should steadily march to the $133 barrier, registering 16% growth.
Technical Indicator
EMA’s: the crucial EMA(20, 50, 100, and 200) concentrated between $124 and $100 creates multiple hurdles for buyers in a narrow range. Moreover, a bullish between the 100-and-200-day EMA encourages more selling orders in the market.
RSI indicator: the RSI slope rising price for the retest to the same $100 supports indicates the rising bullish momentum. In addition, this positive divergence indicates a higher possibility for price recovery.
Quant Coin Price Intraday Levels
- Spot rate: $113.9
- Trend: Bullish
- Volatility: Low
- Resistance level- $115 and $124
- Support level- $101 and $87.3
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