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Cryptoknowmics 2022-09-28 08:30:04

QNT Technical Analysis: Will This Golden Crossover Boost Quant Prices?

The QNT Technical Analysis shows a rounding bottom reversal from the support trendline giving a bullish breakout of $133. The QNT price action shows a bullish reversal from the ascending trendline, crossing the previous swing high at $133. Moreover, the price action offers a breakout entry opportunity for Quant buyers as the bulls break a rounding bottom pattern. However, the higher price rejection in the daily chart questions the uptrend sustenance. Key Points: The Quant price action shows the $133 breakout. The higher price rejection candle warns of a reversal. The intraday trading volume in Quant is $205 million. Source – TradingView QNT Technical Analysis As mentioned in our previous analysis, the QNT price action avoids a head and shoulder pattern displaying the buyers beating the bearish pressure. The market value breaks the $110 mark, nullifying the bearish pattern. The breakout rally propels the QNT price by 21% in the last five days, creating a streak of bullish candles. Moreover, the Quant price action displays a rounding bottom pattern breakout as the uptrend exceeds the $133 neckline. Additionally, the high momentum uptrend increases bullish influence over the crucial daily EMAs resulting in a positive uptrend. Hence, the possibility of a golden crossover increases in the daily chart. This prominent reversal rally comes after a sharp increase in buying pressure at the support trendline. Hence, any future correction...

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