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Quant Bulls Regain Momentum at $179.2, More Gains Possible? By CoinEdition


Quant Bulls Regain Momentum at $179.2, More Gains Possible?
  • Quantitative price analysis has shown QNT has increased by more than 2.61% over the past 24 hours.
  • QNT is currently testing the $180.0 key resistance level
  • QNT’s immediate support level is $175.42

Quant appears to be in an uptrend according to technical analysis and has shown significant resistance at higher prices. The altcoin has been impressively moving with a steady price growth over the last month. Quant trades at $178.91 after repeatedly breaking through resistance levels at $175 and $178.

Quant price movement, source: Coinmarketcap

The Fibonacci levels of retracement also indicate that QNT is open to further growth. The next key resistance level is at $200. Quant also has a bullish trend as indicated by the relative strength indicator and the moving-average convergence divergence.

The uptrend is further reinforced by the moving average lines that measure short- and long-term trends. The 50-day MA is higher than the 200-day MA. Also, the exponential moving average EMA’s, specifically the 10-day EMA and the 20-day EMA, have crossed over, indicating a bullish trend.

The weekly chart for the pair shows that the RSI is above 60 and that the MACD line rises above the signal line. This indicates a solid uptrend. The MACD line is also diverging positive, which suggests that buying pressure has increased.

Quant looks like it has room for further growth if we look at the important support and resistance levels. The QNT/USD pair currently has a key resistance level at $180.0. The immediate support level is at $175.42.

Quant’s Overledger technology and partnerships, such as with Oracle (NYSE:), could have positive long-term fundamentals. This, along with strong market sentiment could lead to further gains by QNT in future.

27 of the 28 technical indicator are currently giving a Quant buy signal. The bullish trend is supported by the technical indicators on the 4-hour charts, with the RSI at 50 and the MACD line at the signal line.

Source: TradingView. QNT/USD 4-hour chart.

A bearish crossover in MACD could lead to a drop towards $166/$159 support levels on the daily charts. The RSI line is currently at 58 on the daily chart. This indicates that the coin is close to overbought levels and investors should be cautious. Quant could make further gains if the price breaks above $180.

Disclaimer: All views and opinions expressed in this price prediction are published in good faith. Readers are expected to do their research and exercise due diligence. Readers are responsible for all actions taken. Coin Edition and its affiliates cannot be held responsible for any direct or indirect damage or loss.

The post Quant Bulls Regain Momentum At $179.2, Additional Gains Likely? Coin Edition first published this article.

See original on CoinEdition

News Source and Credit

Stocksak Editorial

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