Following a quick rejection from the $72 level three weeks ago, QNT found a new support yesterday and bounced back with a fresh bullish formation. It just flipped a key level following an insane gain overnight. QNT’s retracement remains bearish in the short term, but the crypto landscape is slowly changing to the upside since it mounted support above the $84 level. The bulls are now stepping back in action as the demand level has risen in the last 24 hours. This latest surge was triggered by a bounce off the $72.7 level earlier this month, and from the look of things, the trend will likely go in favour of the bulls soon following a trend reversal formation on the daily chart. While several altcoins are still struggling to bounce back from their recent lows, it just signalled bullish with a strong surge above the key $100 level. The price is now approaching $110 at the time of writing. If the price stays well above the mentioned key level for the rest of this week, we can anticipate a big price movement in the coming week. And if that happens, we may see trading back above the $150 level that broke in December. This should trigger a strong bullish bias. But right now, the bulls are in control on a daily scale. QNT’s Key Levels To Watch Source: Tradingview There’s a close resistance level at $110. If the price flips through it, we can expect further buying to the $124 resistance. Above it lies the $147 level and $171.7 in case of more increases. Aside from the recently flipped $96.2 level, which is now considered as support, there’s also support at the $84 level. A drop there could slide the price back to $72.7. Key Resistance Levels: $110, $124, $147 Key Support Levels: $96.2, $84, $72.7 Spot Price: $106.7 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: loft39studio/ 123RF // Image Effects by Colorcinch
