Quant (QNT) Breaks a Medium-Term Resistance: May Soon Cross the $112.00 Threshold

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RESULTS

Quant’s price has increased significantly today, and by looking at things, prices in this market may still increase further. However, it is essential to further examine price behavior before making such claims. To that effect, let’s try to analyze this market.

QNT Statistics
Quant Value Now: $111.39
Quant Market Cap: $1,339,054,795
QNT Circulating Supply: 12,072,738
QNT Total Supply: 14,881,364
QNT CoinMarketCap Ranking: 39

Major Price Levels:
Top: $111.39, $113.00, and $115.00
Base: $110.00, $108.00, and $106.00

Quant Cracks Open the Resistance at $108.00

Since the previous session, the price of Quant has been increasing significantly and seems not to have drawn the attention of short traders. Today, the price of this token has kept on at the same pace considering the appearance of the last price candle on its daily chart. Also, the crossover on the Relative Strength Index (RSI) indicator is still young and upside-facing.

Additionally, the Moving Average Convergence Divergence MACD indicator lines are still rising upwards above the equilibrium level with more vigor. All these points point to the fact that upside momentum is high and still has the potential to cause more price increases in this market.

QNT Nears Breaking the $112.00 Price Resistance Mark Shortly

For the past seven trading sessions, price action in the QNT 4-hour market has kept increasing uninterrupted. Consequently, this session has kept this token trading outside the uppermost Bands of the Bollinger Bands indicator. At this point, the RSI indicator lines have merged and are moving sideways. This seems to indicate that buyers may be running out of momentum.

And this makes sense because price action has significantly pushed the uppermost limit of the Bollinger Bands indicator, and it is expected by the rule that a downward correction may result. Nevertheless, the MACD maintains that the upside gain may continue as its lines continue to rise upward while the bars are still green. Nevertheless, traders should prepare a solid exit plan if they are still targeting a price increase toward the $114.0 mark.

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