Quant Price Analysis: The QNT Surged 25% The Other day; Are We Entering A Recovery Phase?
In these last two and half months, the QNT coin exhausted all the gains price gathered since august. This short-term downtrend dropped the price to $145 support and currently indicates a bullish reversal from this level. Watch these technical levels that can support the new rally.
Key technical points:
- The QNT coin price reclaims the 20-day EMA
- The intraday trading volume in the QNT coin is $660.5 Million, indicating a 3.83% gain.
Source- QNT/USD chart by Tradingview
The correction phase the QNT coin began in the latter half of September and was trying hard to sustain above the crucial support of $250. However, on November 16th, the price even breached this support level, indicating a deeper correction or short-term downtrend in this coin.
The QNT coin plunged to the 0.786 Fibonacci retracement level or the $145 mark. For the past few days, the coin indicated intense demand pressure at this level with several lower price rejection candles. On December 11th, the coin shows a sudden surge of 25% in its intraday session, indicating a bullish reversal.
The coin price is trading below the crucial EMA levels(50 and 100), projecting a downtrend for its investors. However, the bulls have reclaimed the 20 EMA on its side.
The daily Relative Strength Index(52) displayed a similar recovery in its value, supporting the market buyers.
QNT/USD 4-hour Time Frame Chart
Source- QNT/USD chart by Tradingview
This new rally in the QNT coin breached some crucial resistance levels like the dynamic resistance from descending trendline and two horizontal levels of $189.5 and $216.6. However, the coin is currently in a retest phase which could even check the $189.5 mark.
The traditional pivot shows remarkable confluence with the QNT/USD chart levels. According to these pivot levels, the crypto traders can expect the nearest resistance at $248, followed by $278. As for the opposite end, the support levels are $210 and $190.
- Indian Court Declares XRP as Property in WazirX Hack Case
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- 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
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
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.
