QNT Technical Analysis: Will Quant Maintain Recent Rebound Above $120?

The QNT technical analysis highlights an inclining trend backed by a recent bull run, taking prices above $120 with substantial demand in the market providing opportunities for traders. Despite falling below the psychologically important mark of $100 last fortnight, the Quant (QNT) made an impressive recovery by delivering a growth of 7.1% in the last 14 days. Currently trading at $122.08, QNT price action has shown strong bullish momentum after breaking above the mark of $120. With the market cap surging by 9.57% to $1.44 billion, QNT saw a jump of 5.12% during the last 24 hours. Additionally the spike of 19.14% to $34.08 million, the trading volume also reflects the dominance of buyers in the market.

Key Points

• The QNT price action display bullish momentum with low-price rejection candles
• Moving above 200-day EMA the daily chart shows a steep uptrend
• The intraday trading volume in QNT is $34.08 million, reflecting a rise of 19.14%

Source Tradingview

QNT Technical Analysis

In the previous analysis, QNT displayed a sharp rebound after falling to the low of $108.28. But, prices could not maintain the momentum and fell below the support level of $100. However, of late, the QNT has been able to trigger another round of rebound as today’s trading chart also represents a continuation of the bullish rally. After consolidating below $120 the QNT price action showed a remarkable recovery. Following the recent drop, prices pulled back at the mark of $119 after facing opposition from the 200-day EMA and broke above the $120 mark. The sideline trades may expect buying opportunities if prices continue to stay above $122. If QNT sustains the bull run it may dare to break out above $125. Conversely, if QNT witnesses bullish failure it may drop again below $120.

Technical Indicators

A sharp upward movement of RSI above the level of 60, challenging the 14-day SMA while making a bullish divergence, projects a considerable amount of demand for QNT in the market. MACD also teases a bullish crossover as bullish bars reappear on the histogram. Supported by the high demand in the market with MACD signaling another upswing, the technical indicator underlines the right time for traders to make an option.

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