- QNT breaking the support mark of $108 shows weakness on charts.
- Buyers trying to attain the neutral marks towards $110.
Quant price is willing to attain a 20-day EMA to fetch neutral marks and obtain fresh buying momentum. Moreover, the recent breakdown below the support mark of $108 shows buyers are attentive near the demand zone and succeeding in accumulating the coin.
QNT showed rejection from the supply mark of $110.00, but buyers persisted in holding the price near support levels. QNt slips below the significant moving averages and tries to claim a 00-day EMA to attain neutrality. However, the chart shows a double-top pattern, which leads to bearishness in the coin from the supply zone. The pattern’s neckline is at $105.00, below that range, sellers activated the muscles, and bulls faced the selling pressure.
When writing, QNT trades at $103.90 with an intraday drop of 0.22%, showing tight, narrow-range moves. Moreover, the bulls will gain momentum only when buyers regain above $110, then bulls regain the muscles, and a sharp short covering move can be seen.
Daily Chart Formation of QNT Token
On the daily chart, the QNT token shows a breakdown move below the crucial support mark of $110. However, the sellers continue to make short positions, and lower trading volumes also become a concern.
QNT coin is trading on the verge of the Bollinger band after failing from the supply zone. However, Investors should be cautious and also trapped from the past weeks. Trading Volume has decreased over the last trading days, and thus investors should wait until the price settles above $110.
What Traditional Indicator Says?
On the 4-hour charts, the QNT token shows a negative outlook with slippage from the supply mark of $110.
QNT coin price, as per the price action, is showing neutral signs, and the parameters indicate that it remains to see if the coin supply zone of $0.055 moves above it or faces rejection and again falls.
Moreover, price action still shows negative cues as the token is below $110, giving weak sentiments.
The RSI curve is below the neutral level of 50 and faced rejection. Moreover, the curve noted a negative crossover, and sentiments are still negative as the curve headed toward the oversold region.
The MACD indicator awaits a crossover, and in the upcoming session, we can expect a move in either direction. Volatility may resume till the price stays below the trajectory swing of $100, which sellers want to retest soon.
Conclusion:
QNT token remains in the hands of sellers and struggling near the psychological round level of $100. Below that, aggressive selling pressure on the token can be seen, and more downside will resume.
Technical Levels
Support Levels:$100 and $94
Resistance levels: $108
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.