MEXCQNT Bulls Ready To Smash Overhead Resistance Trendline
The QNT price showed a sharp trend reversal as it bounced back from the $90 mark to retest the broken zone at $100. The bullish engulfing candlestick in the daily chart lights a hope of buying spot for sideline traders. So, should you consider buying at the current prices in hopes of a bullish breakout?
Key points of QNT Analysis:
- The price action displays the lower low trend formation.
- The 20-day EMA provides a dynamic resistance in the daily chart.
- The intraday trading volume in the Quant is $32 Million, indicating a 6% gain.
Source-Tradingview
The QNT/USD price chart shows a downtrend after the bullish failure to cross the $130 mark. The lower low formation in the daily chart leads to the generation of a resistance trendline which keeps the bullish growth in check.
The market value spikes 8.50% in the last 24 hours leading to a morning shop at information near the $90 mark. The bullish reversal retests the broken supply zone at the $100 mark and challenges the sellers at the resistance trendline.
The intraday trading volume fails to support the bullish candle formation, which increases the possibility of higher price rejection.
However, if the prices break above the resistance trendline, a bullish trend continuation to the overhead resistance of $130 is possible.
On the other hand, a very strange continuation with higher price rejection can lead to the fallout of the $87 support level.
Technical Indicator.
DMI: the DI lines maintain a choppy sideways movement but the recent decline in the bearish gap projects the possibility of a bullish crossover.
RSI indicator- The daily-RSI slope makes the price action analysis and shows a bullish reversal in the nearly oversold zone challenging the 14 days average line. Hence the indicators reflect an increase in the underlying bullishness.
- Resistance levels- $100 and $130
- Support levels- $90 and $75
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
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.
