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- Quant token provides bounce in dip while price stays above bullish trendline.
- In the weekly time frame, the 20-day exponential moving average is present below the current price of QNT.
- The QNT token against the USDT pair recorded a 16.7% gain this week.
Quant is performing well against the cryptocurrency market sentiments. This is the harsh truth that QNT investors are enjoying a bullish rally in value as the rest of investors are stuck with other altcoins. For the past several weeks, Bitcoin has been unable to sustain above the $20K zone despite bulls’ multiple attempts.
QNT on Weekly Chart
On a weekly chart, Quant token is showing higher-lows formation above the bullish trendline since its annual low. As a result, bulls often looked offensive while price retested this horizontal support.
Due to higher sustainability, QNT price breached the recent resistance level of $130, but weekly candles still remain too close. Now crypto is moving towards the supply zone, while the QNT token against the USDT pair recorded a 16.7% gain this week. In addition, the 20-day exponential moving average is present below the current price of QNT.
QNT on Daily Chart
Over the daily price scale, QNT token is moving higher to hit the $150 level as a resistance. Thus the token is remaining above the significant exponential moving averages like 20,50,100 and 200 while price is trading at $135.2 mark along with 7.75% at the time of writing.
The 200-EMA (white) has turned into the key support level. Probably, altcoin will reverse near 200-EMA if price sees a retracement phase ahead. However, trading volume record increase since last week, in fact, last night it’s spiked by 209% at $202 Million.
The QNT token’s price prediction says more upside momentum until price reaches $150 level. Thus daily RSI has entered the overbought zone but still looks positive. Furthermore, MACD is increasing higher in the positive region along with higher histograms.
Conclusion
The Quant token (QNT) has regained nearly 33.6% in the last 7 days as per CMC data. Although, the bullish momentum occurs against the crypto market trend, than too investors have already took long-position until price reach at supply zone.
Support level – $130 and $100
Resistance level – $150 and $200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
