Published 13 hours ago
Out of the top 100 cryptocurrencies listed in coinmarkcap, the QNT is one of the few coins painted in green. Moreover, the altcoin has been on a winning streak for the last seven days, registering a growth of 34%. The Quant coin price currently trades at $135.4, trying to sustain above the breached $131.5 resistance.
Key points from Quant price analysis:
- The $131.5 breakout offers a 16% growth opportunity for Quant buyers
- Overbought RSI indicates the buyers should wait for a retest or minor pullback
- The intraday trading volume in the Quant is $207.5 Million, indicating a 121% gain
Following the August second-half correction, the Quant coin price struggled to surpass the $112.1 resistance. However, despite facing some macro market events such as the interest rate hike, the coin price managed to sustain above the $97.3 support.
As market sentiment eased, the Quant coin price replenished its bullish momentum and gave a massive breakout from the $112.1 resistance on September 24th. Moreover, the post-breakout rally extended the recovery rally 20% higher and breached the last swing high resistance of $131.5.
Reclaiming the $131.5 mark will give buyers a stiff footing to continue the forward march. However, earlier today, the Quant coin price showcased 9.56% growth, but by the press time, it had nearly evaporated due to the profit booking from short-term traders.
Thus, interested buyers should wait for the daily candle to close above $131.5 resistance before taking an entry. Anyhow, the post-breakout rally should drive the prices 16% higher to $155.
On a contrary note, if the sellers pull the Quant coin price below $131.5, the market participants may witness another minor correction.
EMAs: The rising EMAs(20, 50, and 100) accentuate strong recovery in Quant coin. Moreover, a potential bullish crossover between the 20-and-200-day EMA should accelerate bullish momentum.
RSI: The daily-RSI slope spiked(75%) into the overbought region suggests a minor correction or short consolidation above $131.5 is needed before further price growth.
- Resistance levels- $141.8 and $155
- Support levels- $131.5 and $120
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.