- QNT price is preparing for a pullback on its ongoing uptrend from a price of 113.3
- QNT price might take a correction of 9 percent within the upcoming days
The QNT price has been trending on an uptrend for the last few months. Recently after making a bullish Doji candle pattern and a double-bottom kind of pattern around $100.0 price, the QNT token made a bullish rally of 51 percent after taking resistance from the level of $160.0 around its previous high it took a bearish turn of 22% also QNT price can give a move of 8% more before taking pullback before its most recent support. The current price of QNT is $122.8 with a change in the 24-hour trading volume of 20.24 percent.
QNT price is on a bear trend preparing on taking a correction
Although after the correction of 8% QNT price will have to make a bullish candlestick pattern in the conformation of the changing of the trend to provide a clear signal that the bulls are currently supporting the price at current levels.
The overall market sentiments are currently trading at a neutral level around 48 points in the greed and fear index seeing a decline of 3 points since last week according to the site Alternative (dot) me. While the bears are currently dominating the price action by a small percentage of 50.48% across the major cryptocurrency exchange platforms according to the site Coinglass.
Technical Analysis (On 1 Day Timeframe)
The QNT price is currently taking resistance from the 200 EMA which is trading around the $127.5 price while the other major key averages are trading above it. Although the 20 EMA is crossing below the 50 and 100 EMA and it might also cross below the 200 EMA giving an important negative crossover. While QNT coin’s main support level is around the price of $115.0 which is 8% below the main price.
The RSI line is currently trending in a downtrend. The RSI is currently facing resistance from the 14 SMA while the RSI is trading near the demand zone around 35.65 points. The SMA line is trading near the 41.10 points.
Conclusion
The investor’s sentiments regarding QNT price are bullish as can be estimated from the bull trend as the buyers are constantly supporting it from the support levels. While after taking resistance from $140 the price was successful in crossing above it this time currently it is taking resistance from its 52-week high which is around the price of $180.0 which might become the buyer’s next target.
Technical levels
Support – $115.0
Resistance – $127.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/03/06/qnt-price-analysis-is-qnt-price-preparing-for-a-pullback/