QNT price finds a crucial support zone at $116, setting a high-demand area for buyers.
A potential upward movement in QNT may encounter resistance at $123 and $132.
The coin's recovery is contingent on maintaining the support of the long-standing trendline.
Despite market enthusiasm for Bitcoin ETFs, QNT has been in a correction since early 2024.
From its peak at $147, QNT has seen a 20% drop, currently trading around $116.80.
The coin receives dynamic support from an ascending trendline over the past four months.
At the time of writing, QNT is trading at $116, near a vital confluence of the 50% Fibonacci level and an ascending trendline.
A resurgence in buying could propel QNT to around $132, a 14% increase.
QNT may form a double bottom bullish reversal pattern, with a key breakout point at $128.
The daily RSI is below 50%, indicating a neutral market sentiment.
QNT price hovers above the 100-and-200-day Moving Averages, suggesting an active overall trend.
Key levels to watch include the $128 neckline for a potential breakout and the $108 mark for a possible bearish downturn.
A potential upward movement in QNT may encounter resistance at $123 and $132.
The coin's recovery is contingent on maintaining the support of the long-standing trendline.
Despite market enthusiasm for Bitcoin ETFs, QNT has been in a correction since early 2024.
From its peak at $147, QNT has seen a 20% drop, currently trading around $116.80.
The coin receives dynamic support from an ascending trendline over the past four months.
At the time of writing, QNT is trading at $116, near a vital confluence of the 50% Fibonacci level and an ascending trendline.
A resurgence in buying could propel QNT to around $132, a 14% increase.
QNT may form a double bottom bullish reversal pattern, with a key breakout point at $128.
The daily RSI is below 50%, indicating a neutral market sentiment.
QNT price hovers above the 100-and-200-day Moving Averages, suggesting an active overall trend.
Key levels to watch include the $128 neckline for a potential breakout and the $108 mark for a possible bearish downturn.