The post QNT Price Analysis: Is $200 the Next Target for Quant? appeared first on Coinpedia Fintech News
As one of the top-performing altcoins in the crypto market over the past 24 hours, Quant price has increased by nearly 10%. Crossing above the billion-dollar market cap, the QNT price currently trades at about $90.
With a new bull cycle at play, let’s find out the QNT price targets if a breakout rally crosses the $100 mark.
QNT Price Analysis
As the bullish trend gains momentum, the weekly chart shows a falling wedge pattern. Within the pattern, the bull run is starting a cycle with three consecutive green candles. The recovery rally accounts for a price jump of nearly 60% in two weeks and is now trading close to the $90 mark.
The recovery run has exceeded the 50-week EMA line and is heading toward the $100 psychological mark. Furthermore, the positive cycle takes a double-bottom reversal from the support trendline and breaks the neckline at $75.
The double-bottom breakout teases an upside continuation as the positive cycle within the falling wedge gains momentum. With the surge in buying pressure, the bull run is likely to challenge the overhead trendline close to the $105 mark.
Technical Indicators:
MACD: A bullish breakout of this resistance trendline is likely to reach the 23.60% Fibonacci level at $121 before the end of the year. Supporting the bullish trend, the MACD indicator gives a positive sign for the bull run.
What Are the Key Levels to Watch Amid Qnt Price Correction?
Based on the Fibonacci level, the falling wedge breakout rally will likely challenge the 50% Fibonacci level near the $200 psychological mark. This is the starting point of the resistance trendline.
Hence, with an upside potential of more than 100%, the QNT price action will likely witness a surge of inflows. Conversely, the current price action shows crucial support at $75 and $65.
Check out our QNT price prediction for 2024-2030 for more information on the long-term price projections.
FAQs
The rally is supported by a double-bottom reversal, a falling wedge breakout, and positive market sentiment, driving strong buying momentum.
QNT is aiming for $121 at the 23.6% Fibonacci level and could potentially reach $200 at the 50% Fibonacci level in an extended rally.
Key support levels lie at $75 and $65, providing a strong base for potential price pullbacks.