Will QNT surpass the 200 day EMA again?

• QNT token noted a recovery from $100 and continues to surge.
• Bulls showed their intent to extend the momentum further.

Quant token price was noted with a V-shaped recovery from the strong demand zone of $100. However, the token is facing a barrier of 200-day EMA which does not escape QNT beyond the mark of $120. The price action shows that the token is in the bullish territory and led a bounce from the 20-day EMA, and a bullish engulfing candle was formed on the chart.

However, there was a breakdown in the past trading session, QNT got support on a 20-day EMA and reversed from there. Buyers are willing to register a breakout above 200-day EMA above $120, which acts as a strong resistance mark but cannot cross. From the last trading session, there was intense selling in the crypto assets, which led to the rejection to climb further of the QNT token, and sellers made short positions.

Quant token shows that buyers are gaining traction from the bottom of $100, where a base buildup was noted, and buyers are directing their attention and making long positions there.

The ongoing trend shows that buyers were attaining strength and trying to continue the pump, accumulating the token, but sellers were also trying to achieve stability and willingness to dominate.

When writing, the QNT token trades at $116.06 with an intraday gain of 1.12%, showing a bounce from the 20-day EMA. Moreover, the pair of QNT/BTC is at 0.00433 BTC, and the intraday trading volume increased by 1.70% to $32.20 Million. The day high of QNT is $117.46, and the day low is $114.55. The market cap of QNT is $1.13 Billion.

Will QNT Token Escapes above $120?

On the daily charts, the QNT token noted a trendline breakout in the past week above $110, and now it is retesting the base of the 20-day EMA, showing a bounceback which cleared the intent of bulls to lead the journey towards further highs.

Moreover, the price is near the 23.6% Fib level, which shows a strong support mark on the $110, where a bounce was noted.

Short Term Charts of QNT

On the 4-hour charts, the QNT token trades in the bullish territory, survive the volatile market withholding gains and reflects buying cues.

The QNT token’s RSI is near 50 showing neutral perspectives and near the signal line, which shows that a decisive move will be seen in the following sessions.

The MACD indicator shows a bullish crossover with green bars on the histogram that showed a bounce in the last sessions.

Conclusion:

QNT token is near to the 200-day EMA and above the 20-day EMA, which shows the region of the token, any breakout above or below will lead to a sharp move.

Technical Levels:

Support Levels:$110

Resistance Levels:$125

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.