What you need to know:
- Quant (QNT) may reverse bullishly, with an inverse head and shoulders pattern forming.
- A break above $71 is key to confirm the bullish trend, potentially pushing QNT towards $80+.
- The RSI at 56.47 shows neutral momentum, while the MACD signals a short-term bullish move.
Quant (QNT) may signal a bullish turnaround on Wednesday, February 11, with a possible inverse head and shoulders pattern observed. according to to the crypto analyst Crypto Pulse.
This classic technical setup often signals a shift from bearish to bullish momentum. Traders are watching it closely as a confirmed breakout could mark a decisive shift in market sentiment for the token.
Source: Crypto Pulse X post
A breakout and close above $71 is needed to validate the pattern, which could potentially lead to further gains. The momentum could allow QNT to retest the highs in the $80+ region.
As optimism increases, investors may have to wait for confirmation as the reversal pattern will determine whether the token is ready to continue its upward trajectory.
Also Read: Quantitative Price Nearly $80, Can QNT Reach $165 Before Fusion Mainnet Launches?
Quant (QNT) technical data suggests improving conditions
According to TradingView, starting on Wednesday, February 11, within a four-hour window, QNT experienced a steep price drop during the period between late January and early February.
The price dropped significantly from $78 to $55 on February 5. It was highlighted by long red candlesticks piercing the lower Bollinger Bands. It remained below the major moving averages during the period. It was a period of market pressure with increased volatility.
Source: Trading view
Currently, QNT has returned to the $68 area, crossing the 20- and 50-day SMAs but still remaining below the 100- and 200-day SMAs.
The Bollinger Bands have tightened, indicating reduced volatility and a possible period of consolidation. This indicates a partially bullish trend within a bearish trend, with resistance around $70 to $73 and support around $65 to $64.
Momentum indicators point to a consolidation phase
The RSI stands at 56.47, which means the asset’s momentum is neutral; it is neither overbought nor oversold. Although the RSI indicates that the price is rising, it has not yet risen enough to become overbought. So it has somewhat positive sentiment, but not strong momentum in any direction.
Source: Trading view
The MACD reading shows that the blue line is above the orange line. This indicates that the market is bullish. The histogram values are also positive.
However, the distance between the two lines is quite narrow. This could indicate a brief consolidation before the market moves. Both indicators should be monitored for signs of growth or reversal.
Also read: Is QNT preparing for a bounce? Weekly chart shows an upside target of $75
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