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With the highly influential bearish trendline staying in action, the QNT coin price fails to sustain above the $150 mark, thereby, resulting in a retracement of almost 25% in the last week. Moreover, the trend continues to reach the $100 mark and brings selling opportunities to ride the trend.
Key technical points:
- The QNT coin price breaks below the 200-day EMA and the $25 mark.
- The DMI indicator indicates a trend reversal with the bearish crossover of the DI lines
- The 24-hour trading volume in the Quant token is $41.5 Million, indicating a 15% fall.
Past Performance of QNT
QNT coin price trades at $117.52, with a downfall of 25% in the past week as it faces rejection from the highly influential resistance trendline. Moreover, the recent fall of 9.67% in the past day creates a huge bearish engulfing candlestick. Hence, the reversal in trend is evident by the price action. Source-Tradingview
QNT Technical Analysis
The recently failed bullish attempt to overcome the long-coming downtrend puts the bears back in action. The sellers dominating the resistance trendline overtake the trend control and indicate a downfall to the $100 mark. The Quant coin prices trade below the crucial EMAs as they maintain a bearish alignment in the daily chart. Moreover, the 50-day average provides dynamic resistance to keep the bullish growth in check. The RSI indicator shows a sales pressure boom as the slope breaks below the 14-day average and the 50% mark. Therefore, the slope that enters the nearly oversold zone reflects a rise in bearish sentiments. The DMI Indicator shows a bearish crossover of the DMI lines in the QNT/USD daily chart as the ADX line falls, indicating a fall in the trend momentum. Hence, the indicator reflects the possibility of a downfall to the $100 mark. In a nutshell, the technical indicators reflect the rising number of sellers taking over the trend.
The QNT coin price continues the downtrend as it fails to crossover the resistance trendline in the daily chart. Hence, the ongoing fall brings selling opportunities with a target over the next support level. Support Levels:$100 and $80 Resistance Levels: $150 and $165