Quant crypto price is trading with the mild bullish cues and buyers were trying to reverse the trend in the favor of bulls.QNT/USDT is trading at $114.6 with the intraday gains of 2.41% and 24 hour volume to market cap ratio stood at 0.022
Will the QNT be able to expand upside ?
On a daily time frame, Quant crypto price had been quite volatile and bulls were tried multiple times to trade above $120.00 level but got rejected indicating strong sellers are active at higher levels. In the mid of November QNT prices formed a bullish hammer from the support zone of $100 and gained some upside momentum but bulls failed to continue the upside and prices struck in the narrow range between $100 to $130 and likely to expand on either side soon.
If the overall crypto market sentiment turns positive in coming months then probably the QNT price may look for upside expansion and prices may hit $150 levels. However, if prices trade below the 50 day and 200 day EMA for some more time, the bears may try to drag the prices below the $100 support level. As of now, the 50 day EMA (yellow) and the 200 day EMA (green) will act as an immediate hurdle in coming weeks followed by the next hurdle at $130.00 level. On a lower side $100 and $90.00 will act as a savior for bullish investors. The MACD has generated positive crossover shows the confidence of bulls and the RSI above 54 denotes more room for upside is open.
Will the trend work in the favor of bulls ?
On a lower time frame, QNT prices look stable and bulls are trying to continue the short term upside momentum while forming higher high candles. The volume bar seems to be higher than average indicates some genuine buyers might be building long positions and expecting the price to continue the upside movement. The supertrend indicator had generated a buy signal indicating short term trend may work in the favor of bulls. However, if prices slipped below $100 bears may drag the prices further down towards $90.00 and below levels.
Summary
Quant crypto price is stuck in the narrow range and showing signs of upside expansion but the 50 and 200 day EMA will act as a strong barrier for bulls. As per technical analysis, prices are likely to trade with a bullish bias and the short term trend may work in the favor of bulls. So, aggressive traders might look for buy opportunities for target of $130.00 and above levels by keeping $100 .00 as SL. However, if prices slipped below $100, investors may witness more downside in QNT prices.
Technical levels
Resistance levels : $130.00 and $150.00
Support levels : $100.00 and $90.00
