Was asked to look at this one by request, otherwise not super familiar with this chart but am familiar with the token. A quick and simple take on QNT's weekly chart, showing the daily 50/200 EMAs:
Long-term, Quant looks like it exited a triangle with a bullish breakout back in November. It has since re-tested and remained above.
Some confluence for this is that it also shows a golden cross of its 50 / 200 day EMAs (MAs as well, not pictured), which it also tried to move back under but has since reclaimed and then bounced off of, moving up.
Should this behavior continue,
QNTUSD
should see a measured move to ~493 as TP 1 and then ~1076 as a possible TP 2.
Halfway to TP 1 is 225, which could act as a stopping point along the way as it lies just within weekly resistance between the Oct 2022 high and the September 2021 high.
Long-term, Quant looks like it exited a triangle with a bullish breakout back in November. It has since re-tested and remained above.
Some confluence for this is that it also shows a golden cross of its 50 / 200 day EMAs (MAs as well, not pictured), which it also tried to move back under but has since reclaimed and then bounced off of, moving up.
Should this behavior continue,
QNTUSD
should see a measured move to ~493 as TP 1 and then ~1076 as a possible TP 2. Halfway to TP 1 is 225, which could act as a stopping point along the way as it lies just within weekly resistance between the Oct 2022 high and the September 2021 high.
Trade active:
Here's another way to look at QNT:
An inverted HS that broke out, had a pullback, reclaimed its neckline.
It has since formed a falling wedge along the top of that neckline, which has also broken out and had a successful re-test of its top.
Targets for both patterns shown on this alternate chart snapshot:
An inverted HS that broke out, had a pullback, reclaimed its neckline.
It has since formed a falling wedge along the top of that neckline, which has also broken out and had a successful re-test of its top.
Targets for both patterns shown on this alternate chart snapshot: