Quant (QNT) Breakdown Spells Trouble For Future Price Action

2022-12-13 19:04

The Quant (QNT) price has broken down from both long- and short-term patterns. A downward movement is the most likely scenario.

QNT is the native token of the Quant network, founder in 2018 by Gilbert Verdian. Quant’s operating system, the Overledger Network, is aimed to act as a connector of different blockchains, in turn fixing one of the main issues with distributed ledger technology. 

The QNT price has fallen since deviating above the $150 long-term resistance area at the end of Oct. (red circle). Shortly afterward, the Quant price broke down from an ascending support line. This was a sign that the upward movement that began in June had now ended. The QNT price validated the support line as resistance last week (red icon) before resuming its downward movement.

Furthermore, the weekly RSI has decreased below 50, another sign that the QNT price trend is bearish.

QNT/USD Weekly Chart. Source: TradingView Quant Price Short-Term Breakdown

The short-term six-hour chart shows that the QNT price also broke down from an ascending wedge during the past 24 hours. Currently, it is in the process of validating the wedge as resistance (red icon). 

When measuring from the Oct. high, it seems that the Quant price is mired in a five-wave downward movement. If correct, the breakdown from the wedge marked the beginning of the fifth and final wave. 

The most likely target for the bottom of the movement is between $65-$71. The target is found using the 1.61 external retracement of wave four (black) and giving waves one and five a 1:1 ratio (white).

QNT/USDT Six-Hour Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.

The post Quant (QNT) Breakdown Spells Trouble For Future Price Action appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Quant (QNT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $104.44
Капитализация $0 Rank 99999
Цена в час новости $ 119.62 (-100%)

quant price qnt spells breakdown action trouble

quant price → Результатов: 57


Quant Balloons Over 35% In Last 7 Days Courtesy Of Strong Social Metrics

Quant is showing a strong push in the face of struggles in the crypto space as it doubled (and added some more) its 14-day price pump. Quant outperforms Bitcoin and Ethereum in terms of 14-day and 30-day price increases QNT is down by almost 10% over the last 24-hours but is still up by almost 29% over the last week Quant could rally all the way up to $300 While a price increase of 28.

2022-10-19 12:57


Quant Explains How Bitcoin Funding Rate Predicted The Latest Top

A quant has explained how the Bitcoin funding rate (72 hour) may be able to correctly signal tops and bottoms in the price of the crypto. Bitcoin Funding Rate May Be Able To Indicate Tops And Bottoms In The Market As explained by an analyst in a CryptoQuant post, the 72-hour version of the funding rate looks to have been effective at pointing out tops and bottoms in the BTC market.

2022-4-8 22:00


Фото:

Quant Analyst PlanB Reveals Why He Is Still Sticking With The S2F Model Despite Bitcoin Failing To Hit $100k This Year

PlanB, the pseudonymous creator of the Bitcoin stock-to-flow (S2F) model has been getting a lot of pushbacks from market participants who are considering the model to have failed as the price of Bitcoin seems to have failed to reach the projected price of $100,000 by end of the year. What critics have said about the […]

2021-12-27 21:22


Quant Explains How Bitcoin On-Chain Data Can Identify Peaks Vs Shakeouts

A quant explains how Bitcoin on-chain data may be used to identify whether a high was because of peak formation or due to a shakeout. Open Interest, Funding Rates, And LTH-SOPR May Signal Whether A Peak Vs A Shakeout As explained by an analyst in a CryptoQuant post, a combination of different on-chain indicators may be able to identify whether a high means the price is forming a peak or if it’s just a shakeout.

2021-11-5 22:00


Фото:

Is Bitcoin’s Parabolic Bull Market Over? Quant Analyst PlanB Says No

Bitcoin has been on a steady incline for a couple of months now. The bulls, however, seem to be taking a breather after the cryptocurrency attained $61,000 all-time highs earlier this month. Nonetheless, a pseudonymous Dutch crypto researcher behind the popularized Stock-to-Flow (S2F) price model, PlanB, suggests that the price may continue upwards on a […]

2021-3-29 21:24


Фото:

Ethereum’s Vitalik Buterin Lambastes The Stock-to-Flow Model That Predicts 6 Figures For BTC Price

The co-founder of the world’s second-largest blockchain Ethereum, Vitalik Buterin, strongly disapproves of the Stock-to-Flow (S2F) model that has drawn a lot of attention in the crypto space.  The S2F model was created by anonymous quant analyst PlanB, and it takes into account bitcoin’s scarcity after halving events to predict the asset’s price. The model […]

2020-6-16 18:38