A V-shaped reversal at $96.7 support triggers a minor relief rally for Quant price. This price rally coincided with a significant volume rise, which indicates that buyers are committed towards higher prices. However, prices remain under threat from a group of EMAs that are defending a $130 resistance. Key points: Quant price offers
The post Can the Fast-Recovering Quant(QNT), Price Surpass the $130 Mark? CoinGape was first to publish this article.
Published 35 minutes ago by
Brian Bollinger A V-shaped reverse from $96.7 support triggers minor relief rally in Quant Price. This price rally coincided with a significant volume rise, which indicates that buyers are committed towards higher prices. However, a cluster of EMAs defending a near resistance of $130 keep the prices under correction threat.advertisementKey points: The Quant price offers a decisive breakout from the $206 resistance
A Quant price could give rise to a bearish retest of the 100- and 200-day EMA to regain the selling momentum.
The Quant’s intraday trading volume is $142 million, which indicates a 290% gain
Source-TradingviewOver the last five months, while the overall crypto market was struggling through a series of high-interest rate hikes from the US Fed, the Quant price outperformed the majority of major crypto coins with a sustained uptrend.Furthermore, the bullish rally hit a 10-month high of $226 before triggering a correction phase. The Quant price pulled back to $96.7 in the midst of the recent crypto market turmoil caused by the FTX crypto exchange collapse. Trending StoriesThe retracement phase suffered a 57.5% drop since last month. The altcoin saw a sharp recovery of 26.5% due to the ongoing relief rally in crypto market. The bullish recovery also saw a huge breakout from $108.8. This resistance breakout could be a good launchpad for buyers to help boost the recovery rally higher. The altcoin could rise 6.5% higher if there is continued buying to overcome the $130 resistance. The $130 resistance would be a significant barrier for buyers as it is likely to relaunch the current downtrend. Technical IndicatorMACD – The narrowing gap between the MACD signal line and the neutral zone indicates a weakening in bearish momentum. Moreover, a bullish crossover between these EMAs could further strengthen a bullish recovery.advertisementEMAs: the rising prices may soon retest the recently breached 100-and-200-day EMAs located at $130 resistance. These EMAs provide an additional barrier against Quant buyers and support a bearish thesis.Quant Coin intraday price levels: $122.3
Resistance level: $130 and $0.1
Support level: $108 and $145.5
Share this article:About author
The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. Close Story