QNT Price At Crucial Support Brings A Risky Entry Opportunity

The post QNT Price At Crucial Support Brings A Risky Entry Opportunity appeared first on Coinpedia Fintech News

Defying the broader market excitement for spot Bitcoin ETF, the Quant coin price has been under a correction trend since the onset of 2024. 

From the last swing high of $147, the coin price has declined 20% to currently trade at $116.80. The correction trend hovering above the combined support of the ascending trendline and $116 reflects a high potential for a bullish reversal.

Check out our QNT price prediction for 2024-2030 for more information on the long-term price projections. 

Source- Tradingview

The ongoing recovery trend in quant (QNT) price can be followed using an ascending trendline. For the last four months, the coin has received dynamic support from the trendline, bolstering buyers to maintain a sustainable uptrend.

By the press time, the QNT price traded at $116, and the combined support of 50% Fibonacci level and ascending trendline set the stage for another bounce back. The renewed buying pressure could surge the altcoin by 14% to hit $132.

Amid the anticipated upswing, the Quant coin may develop a bullish reversal pattern called a double bottom. A bullish breakout from the $128 resistance will better confirm recovery.

Technical Indicators:

RSI Indicator: The daily RSI at slightly less than 50% reflects a neutral stance from Market participants towards this asset.

EMA: The QNT price wavering above the 100-and-200 Moving Average reflects the overall trend is active.

What are the key levels to watch amid QNT price correction?

Under the influence of the double bottom pattern, the QNT price would breach the $128 neckline in its anticipated reversal. A successful Breakout will intensify the buying momentum in the market and may prolong the current recovery to $147.

In case the ascending trendline fails to rebound higher, the sellers may strengthen their grip for a bearish breakdown. Should this happen, the QNT price may enter an extended correction phase to chase the $108 mark.