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Cryptoknowmics 2022-10-06 06:25:01

QNT Technical Analysis: Another Retest Entry For Quant Buyers

The QNT Technical Analysis displays a post-retest reversal rally gaining trend momentum as it approaches the psychological mark of $150. The QNT price action displays a 10% price jump in the last 48 hours resulting in a successful retest of the rounding button breakout. However, the higher price reduction in the daily candles questions the likelihood of an updated continuation. So should you reconsider taking a bullish trade? Key Points: The Quant price action shows a recovery rally approaching the $150 mark. The increase in buying pressure teases a bull run to $160. The intraday trading volume in Quant is $72.81 million. Source – TradingView QNT Technical Analysis As we mentioned in our previous analysis, the golden crossover boosts the QNT market price, resulting in a successful reversal from $130. Additionally, it completes the retest of the rounding bottom breakout, highlighting a bullish entry opportunity for sideline traders. Furthermore, the spike in trading volume supports the bullish reversal candles, accounting for a 10% jump in the last 48 hours. Thus, the increasing volume supports the bullish price action indicating a high likelihood of the bullish trend reaching $150. Hence, if the high momentum bullish reversal rally continues, the prices will exceed the $150 mark. The breakout rally can result in a price jump to the $160 mark. Conversely, if QNT prices reverse from $150, the seller can drive the market value un...

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