$QNT ignites the market with a sudden jump
Are you ready for the 120 level?
In a surprising upward movement, the Quant (QNT) currency jumped by more than +10% to touch $110.66 before settling at $106.33, attracting the attention of traders and technical analysts alike.
Quick Technical Analysis:
Bollinger Bands:
The price strongly broke the upper limit of the range, with a clear divergence in the bands, indicating strong upward momentum and the possibility of trend continuation.
Moving Averages MA (5 and 10):
The price surpassed both MA5 and MA10 with a clear close above them, signaling a confirmed bullish reversal after a strong bottom at $92.00.
RSI (6):
Currently trading at 88.24, which is a buying saturation area, but in cases of strong breakouts like this, momentum often continues for a while before a pullback.
MACD:
A clear positive crossover, and the green bars are continuously increasing, reinforcing the chance of continuing to rise in the short term.
Proposed Trading Strategy: "Enter after the breakout"
Safe Entry Area:
If the 102 – 104$ level is successfully retested, it may present an excellent buying opportunity.
Stop Loss:
Upon breaking 98$, below the new support area.
Profit Targets:
First Target: 112$
Second Target: 118 – 120$ (an important psychological and technical level)
Do you expect to see a breakout of the 120 dollar level soon? Or is the market preparing for a correction wave? Share your opinion in the comments!