Professional Technical Analysis for Currency #Quant ($QNT ) – Is the Golden Entry Opportunity Approaching?
The currency #QNT/USDT on the Binance platform has seen a noticeable decline recently, currently trading at $106.08 with a drop of -1.04% over the past 24 hours.
Technical Analysis:
General Trend: The currency is in a clear downward trajectory after failing to maintain the resistance level of $125.56.
Bollinger Bands: The price has broken below the lower band, indicating strong selling pressure, but also the possibility of a technical rebound soon.
RSI (Relative Strength Index): At only 18, it is in the strong oversold zone, suggesting a likely upcoming rebound.
MACD: Shows a clear negative crossover, reflecting the current negative momentum, but it may be at the end of a selling wave.
Entry and Exit Points:
Potential Entry Opportunity: From $102 to $104 (a strong support area).
Sell Targets:
First Target: $114
Second Target: $121
Stop Loss: Daily close below $98.
Recommendation:
This is a suitable opportunity for short-term and risk-taking traders, provided they strictly adhere to the stop loss. The current area is close to a potential price bottom, and a technical rebound is very possible in the coming days, especially with the influx of liquidity at oversold levels.
With this analysis, do you think Quant will surprise the market with a strong rebound? Or is more decline on the way? Share your opinion 👇