MARKET ANALYSIS: QNT/USD
One of our members asked about our thoughts on $QNT.
While the project itself is one of the few in crypto we really like and think has serious future potential the chart currently is still in a downtrend. Announcements could reverse the trend with ease, especially on these relatively unknown mid caps with low volume but the formed descending triangle gives us a target of around $2 from a technical point of view. Could retest the broken trendline before going lower, but the current drop makes it unlikely. Overall, the macro chart looks ok. Quant was one of the very few coins making several new all time highs over the course of 2019.
One of our members asked about our thoughts on $QNT.
While the project itself is one of the few in crypto we really like and think has serious future potential the chart currently is still in a downtrend. Announcements could reverse the trend with ease, especially on these relatively unknown mid caps with low volume but the formed descending triangle gives us a target of around $2 from a technical point of view. Could retest the broken trendline before going lower, but the current drop makes it unlikely. Overall, the macro chart looks ok. Quant was one of the very few coins making several new all time highs over the course of 2019.
Comment:
Daily shows a bullish divergence on RSI. Also, since today's AMA of Quant's CEO, rumors are circulating about central banks and large companies from China that wanting to use Quant in the future.
Comment:
Update for QNT/USD
Quant currently retesting the descending triangle trendline which it broke on december the 3rd. If rejected, the target in the low $2 area could be in play once again. But if Quant starts another wave up, we could see a new all-time high by mid-year with a peak price of up to $62, and $26 as a minimum target.
Quant currently retesting the descending triangle trendline which it broke on december the 3rd. If rejected, the target in the low $2 area could be in play once again. But if Quant starts another wave up, we could see a new all-time high by mid-year with a peak price of up to $62, and $26 as a minimum target.
Comment:
Update for QNT/USD
After hitting the target of the descending triangle, QNT is currently retesting the trendline which it broke on december the 3rd.
It could most likely drop to the $2-3 area if it gets rejected. A move above will probably set the stage for a new all-time high in conjunction with some milestones that are expected to be reached by the end of Q2.
Update for QNT/USD
After hitting the target of the descending triangle, QNT is currently retesting the trendline which it broke on december the 3rd.
It could most likely drop to the $2-3 area if it gets rejected. A move above will probably set the stage for a new all-time high in conjunction with some milestones that are expected to be reached by the end of Q2.
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