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Cryptoknowmics 2022-08-24 11:11:38

QNT Prices Skyrocket With Golden Crossover, Hint At A 20% Jump

The Quant (QNT) technical analysis shows a bullish reversal from the golden crossover of the 50 and 200-day SMA, teasing an uptrend to the $135 mark. The QNT price trend shows a bullish turnaround from the 200-day EMA falling below the support trendline, while the 50-day EMA supports the uptrend. Since the weekend, the prices have jumped by 12% resulting in the $106 breakout. But, will this uptrend continue to reach the overhead resistance at $135? Key Points: The QNT market price shows a bullish reversal from the 200-day SMA. The MACD indicator projects a potential bullish crossover teasing a trend reversal. With a market cap of $1.33 billion, the intraday trading volume of Quant has increased by 8.82% to reach $29.90 million. Source – Tradingview QNT Technical Analysis After displaying a phenomenal bullish trend of 162% between July and mid-August, the QNT prices break below the support trendline. After facing opposition from the $130 mark, and overhead resistance trendline, the prices dropped by 22% to take support at the 200-day EMA. However, the golden crossover of the 50 and 200-day EMA halts the falling prices resulting in a bullish turnaround. With the increased demand at the supporting 50-day EMA, the market value has recovered by 12% within the last four days. With the QNT prices sustaining above the $106 level, the possibility of an uptrend to the $133 mark increases. However, an increase in selling pressure might r...

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