QNTUSDT Strong rise but no break-out yet confirmed.

Quant is on a very strong 1D rise today, the strongest since November 09 2021. Even though this is the 4th straight green 1D candle, the restoration of the bullish trend long-term can't yet be confirmed. As you see the price has been trading within a Channel Down since the September 11 2021 market top. The 1D MA50 (blue trend-line) has been acting as Resistance since November 15. Even though the MACD made a Bullish Cross, this rise is just a rebound pricing the new Lower High within the Channel, as were all previous MACD Bullish Crosses since October 16.

The condition to fulfil in order to confirm a bullish break-out and resume of the bullish trend long-term is for the 1D RSI to break above its 57.850 Resistance, which has been holding since September 23 2021. A break above it, should see QNTUSDT break above the 1D MA50 as well and target the top of the Channel Down to roughly 210.00 - 220.00, while a break above it, sets in motion the next Fibonacci extensions (1.5 and 2.0). At the same time a break below the bottom of the Channel Down, should target the -0.5 Fibonacci extension.


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