Breaking out of a consolidation phase yesterday, QNT advanced buying and looks strong. While nearing a monthly resistance, it currently leads the daily altcoins recovery with a double-digit gain in the last 24 hours. After a brief recovery last month, QNT continued to show strength and charted more gains until the price hit $104.1 in the second week of this month. It marked resistance there and entered a consolidation phase to take a break from buying. Though it lost grip but the $90 level stood well. Following a quick market recovery this week, yesterday marked another yet most volatile buying period for QNT as the price broke out of a two-week consolidation. It currently approaches a minor resistance level. Surging above this resistance level should bring us back to the yearly high before deciding where to head next. A continuous increase above this high should fuel a bigger price movement to a new high. Rejecting this resistance could bring a retest at $100 before rallying up. No doubt, the trend is currently in favour of the bulls on the day. If by any chance the bears find their way back into the market, we can expect a serious drawdown to under $70. From a technical standpoint, the bulls are expected to show more commitment in the future. QNT’s Key Levels To Watch Source: Tradingview Trading at a minor resistance level of $112.4, a break there should send the price to a yearly high of $124. A flip through it could rally the price straight to $133, $153.3 and $171.7 before breaking to a new high. In case of a drop, the support level to keep in mind is $101.3. followed by the $90 support. Losing it could roll us back to the $81 level before locating a solid ground for a rebound. Key Resistance Levels: $112.4, $124, $133 Key Support Levels: $101.3, $90, $81 Spot Price: $108 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 !
