A Bullish Pattern Sets Quant Price On 18.5% Growth; Buy Now?


Posted 12 hours ago

the quantitative price The daily chart shows the completion of an ascending triangle pattern. Depending on the technical setup, the pattern offers a target of the same distance between the neckline and the low shot of the lowest swing from the break point. Therefore, the recent breakout of this pattern should help buyers break above the $150 mark.

Key points:

  • An uptrend line keeps the recovery ongoing in the Quant price
  • The recently recovered EMAs (20, 50, 100, and 200) should offer additional support for prices to go higher.
  • Intraday trading volume on Quant is $48 million, indicating a 60% gain

quantitative priceFont-commercial view

amid the recent consolidation in the crypto market, the Quant price resonated in an ascending triangle pattern. Furthermore, the coin’s price three times tested the pattern’s support trendline and $128-125 neckline resistance, indicating that traders are strictly responding to its technical setup.

In theory, this bullish continuation pattern indicates a gradual build in buying momentum, as prices rise with the support of an uptrend line. Also, on December 2, QNT price gave a decisive breakout from the $128 neckline, triggering the aforementioned pattern. This breakout with a significant increase in volume indicates that buyers are looking to claim a higher price.

Today, the Quant price retested the broken resistance and continued with a post-retest rally. Currently, the altcoins is trading at $132.2 with an intraday gain of 1.3%. However, with sustained buying, the price should rally 18.5% to reach the resistance at $157.

Conversely, if the price of the coin turns back down and breaks the support trend line, the bullish thesis will be invalidated.

technical indicator

Relative Strength Index: the pending daily RSI It jumps above the neutral line, indicating that market sentiment has a positive outlook for the Quant coin price.

EMA: Along with the resistance from the neckline of the pattern, the rising price broke a group of crucial EMAs (20, 50, 100 and 200). Furthermore, these EMAs hovering at the $128 mark add to the significance of this claimed horizontal level.

Quantitative Intraday Price Levels

  • Spot Price: $132.6
  • Trend: Bullish
  • Volatility: Low
  • Resistance Level: $147-145 and $157
  • Support Level: $111.5 and $100

I have been working in Journalism for 5 years. I follow Blockchain and Cryptocurrency since last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech to me at brian (at) coingape.com

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The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrency. The author or publication has no responsibility for your personal financial loss.

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