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As price action in the Quant token market experienced an increase in bullish volatility, it rebounded strongly off the support at the $56.90 level. The ongoing session has pushed the market through the technical resistance at the $70.00 price mark. Let’s explore what may lie ahead for this market.
Quant Statistics:
Current QNT Price: $70.60
Market Cap: $864,199,151
Circulating Supply: 14,881,364
Total Supply: 14,881,364
CoinMarketCap Rank: 70
Price action in the QNT daily market quickly moved upwards after hitting the support level at $56.90. This rally pushed the market above almost all of the Guppy Multiple Moving Average (GMMA) lines.
The current session’s price candle can be seen standing above these GMMA lines and breaking through the $70.00 mark. However, the last price candle shows an upper shadow, suggesting that price movement may have encountered headwinds, potentially causing losses in the session.
QNT’s Upside Correction May Retrace Downward
The Quant market has risen to levels last seen on August 26. However, beyond this region, downward contractions in price movement have been observed. As a result, the last price candle appeared as an inverted hammer.
Additionally, the Stochastic RSI has just delivered a bullish crossover in the overbought region. While this may indicate a possible trend reversal, the short-term trend and technical indicators suggest that price action may continue upward, potentially reaching the $72.00 mark. So, traders can make use of crypto signals with targets around or a bit above that price level.
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