- Quant price is trying to maintain itself inside an ascending parallel channel over the daily price chart.
- QNT crypto is trading above 50 and 100 days DMA and is currently trading at 20 and 200-days DMA.
- The pair of QNT/BTC is at 0.00496 BTC with an intraday drop of 6.84%.
On the daily price chart, the Quant price is rising swiftly through an ascending parallel channel. The token first traded below a downward-sloping line, but was able to break out of the pattern and enter the channel with an upward-sloping line. Token must maintain its present upward pace in order to pass the daily chart. Investors in QNT must hold off until the token gains traction and encounters a reasonable resistance level. The QNT currency is currently trading halfway between the ascending parallel channel’s upper and lower trendlines. The token must gain the required upward impetus from QNT bulls in order to progress toward the top trendline.
In the previous day, Quant Price lost 7.05% of its market capitalization, and it is now CMP at $106.11. However, trade volume decreased by 28.22% during the intraday trading session. This indicates how QNT is currently having trouble keeping up bull support. Volume to market cap ratio is 0.02625.
The price of the QNT coin is varying inside a rising parallel channel on the daily chart. Because the coin is currently flowing upstream in that direction, QNT bulls must maintain their proximity to the trendline. The volume change of QNT coin, which is currently below average, has to increase in order to minimize the volatility caused by bears during the intraday trading session. The price of the QNT coin must continue to rise after its breakthrough.
QNT Adapting the Bearish Move and Planning to Remain inside the Channel
Over the course of the daily price chart, the price of the QNT coin has been varying inside a rising parallel channel. To escape the rising pattern, the token must move toward the top trendline. According to technical indicators, the QNT coin’s momentum within the parallel channel is waning.
The QNT coin’s waning momentum is visible in the Relative Strength Index. The RSI is edging closer to the oversold area by continuing to trade below neutrality at this time. The QNT coin’s consolidation phase inside the rising channel can be seen using the MACD. Although by a smaller margin, the MACD line is below the signal line. Investors in QNT should monitor the daily chart for any shifts in trend.
Conclusion
On the daily price chart, the Quant price is rising swiftly through an ascending parallel channel. The token first traded below a downward-sloping line, but was able to break out of the pattern and enter the channel with an upward-sloping line. Token must maintain its present upward pace in order to pass the daily chart. Investors in QNT must hold off until the token gains traction and encounters a reasonable resistance level. The volume change of QNT coin, which is currently below average, has to increase in order to minimize the volatility caused by bears during the intraday trading session. According to technical indicators, the QNT coin’s momentum within the parallel channel is waning. Investors in QNT should monitor the daily chart for any shifts in trend.
Technical Levels
Support Levels: $100.00 and $95.00
Resistance Levels: $115.00 and $120.00
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.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/08/23/quant-price-analysis-qnt-trying-to-sustain-above-100-succeed-or-its-just-a-delusion/