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Cryptoknowmics 2022-07-04 12:58:26

QNT Technical Analysis: Another 50-day SMA Breakout Attempt

QNT price action shows a growing uptrend leading to a potential support trendline teasing a price jump above the 50-day SMA. Key technical points: The QNT market price takes a bullish turnaround from the $43.50 mark. The price action attempts to surpass the 50-day SMA. The 24-hour trading volume of Quant is $21.78 Million, indicating a fall of 5.66%. Past Performance of QNT An increase in QNT supply inflow in the early days of June resulted in a bearish breakout of the consolidation range between $68 and $75. The breakout rally breached the psychological support of $50 to take a bullish turnaround from $43 resulting in a V-shaped reversal. However, the reversal rally surpasses the $60 mark but fails to surpass the 50-day SMA resulting in the price drop to $50. Source- Tradingview QNT Technical Analysis The QNT Price drop to $50 takes a bullish turnaround leading to the generation of a support trendline in the daily chart. Additionally, this showcases a remarkable growth in the underlying bullishness and increases the likelihood of the 50-day SMA breakout. The MACD indicator Shows the bullish trend leading the fast and slow lines to the zero line displaying a remarkable growth in bullish sentiments. Moreover, the RSI indicator shows a bullish reversal, surpassing the 14-day SMA, and teases a jump above the halfway line. Hence, the technical indicators maintain a bullish bias and support the uptrend possibility. In a nutshell, t...

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