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Cryptoknowmics 2022-07-12 07:48:57

QNT Technical Analysis: Will Quant Prices Continue To Grow This Week?

This QNT Technical Analysis shows that the QNT price exceeds the declining resistance trendline but struggles to display a post-retest reversal. Will buyers succeed in regaining trend control? Key Technical Points: QNT prices have increased by 6.98% in the last 24 hours. The price action shows a retracement to retest the 100-day SMA breakout. The 24-hour trading volume of Quant is $66 Million, indicating a drop of 26%. Past Performance of QNT As mentioned in our previous article, the QNT price shows a phenomenal bullish growth in the first week of July and even surpasses the $75 mark. The bullish growth exceeds the 50 and 100-day SMA to reach the $90 resistance level. However, the daily chart displays a retracement to retest the $75 breakout along with the 100-day SMA. Source- Tradingview QNT Technical Analysis The QNT prices regain the bullish alignment with post retest reversal from the 100-day and tease a morning star pattern formation. Hence, with the restarting bullish trend, the likelihood of a price jump to the $100 resistance level increases drastically. The MACD indicator shows a bullish growth in the fast and slow lines as they sustain in the positive territory. Furthermore, the RSI indicator shows bullish growth, trying to re-enter the over territory after dipping into the 70% boundary. Hence the momentum indicators maintain a bullish outlook and forecast a price jump to the $100 resistance level. As for the SMAs, T...

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