QNT Crypto Bulls are Chasing the $120 Mark

Quant price prediction is bullish and suggests this token might show a sharp bounce from its demand zone. 

QNT price is forming a bullish pattern and buyers are trying to push the price upward. It formed a strong base near to $100 level and showed a decent rally in the first week of December. 

Buyers were aggressive and tried to break out of the $120.00 resistance level to trigger the next phase of the rally. However, the attempt failed and sellers managed to defend the supply zone. 

Slowly the QNT crypto reverted downward and retraced back to the 50-day EMA. At present the 50-day and 200-day EMAs are acting as a support and savior for the bulls. Short-term buyers are again getting active and preparing to give a bounce. 

Recently, the EMAs displayed a golden crossover, and trading volume also surged. That means some big players are active. So, the probability of showing a bounce from the EMA support remains high. 

Currently, Quant crypto price is trading at $108.20 with an intraday uptick of 1.31%. The volume-to-market cap ratio was recorded at 1.46%, which denotes that the liquidity in QNT is very low.

Will Quant Price Take U-Turn from the Demand Zone?

Quant price prediction says that bulls might continue their dominance in the short run and new swing highs are possible. Buyers are highly active near the demand zone so downside risk looks limited. 

Till the QNT token is sustained above both the EMAs, the trend will remain upward. The chart pattern shows that bulls are strengthening their grip and preparing for another attempt for a $120 breakout. Therefore, aggressive investors may look to accumulate QNT from current levels and play longs.

QNT Price Analysis: When Will the Next Phase of the Rally Trigger?

QNT price formed a bullish hammer candle on the weekly time frame chart. It shows that buyers are absorbing the selling pressure and trying their best to rebound. The next phase of the rally in the Quant token will trigger only after the $120.00 breakout. 

The MACD curve is sustaining above the zero line but the histogram bar is red, indicating mild bearishness. However, if the price shows a bounce, MACD will adjust itself and is likely to reverse upward.

Conclusion

Quant price prediction suggests a bounce in this token and is likely to retest the $120.00 mark. The analysis suggests that the QNT price is taking support near the demand zone. So, it’s better to play bullish bets and give participation to push the price upward. 

Technical levels

• Resistance levels: $120.80 and $130.00
• Support levels: $104.90 and $94.60

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.