technical analysis for $QNT /USDT with trade signals, three target levels, and trade momentum:
Technical Analysis for QNT/USDT:
Current Price: $142.2 (+24.96%)
24h High: $147.8
24h Low: $108.0
Support Levels: $125.0, $115.0
Resistance Levels: $147.8, $150.0
Trend: The recent uptrend suggests a bullish market in the short term, although there are signs of retracement in the lower time frames.
Trade Signal & Strategy:
Entry Point:
Buy Entry: $142.0 - $143.0 (if price stabilizes above $142.0)
Strong support seen at the $125 level, and the recent upward movement has created a bullish outlook.
Target Levels (Take Profit):
1. Target 1: $147.8 (First resistance level)
The first target is the previous high at $147.8, where we could expect some resistance.
2. Target 2: $150.0 (Psychological level & resistance)
After breaking $147.8, the next key target is $150. This level often acts as a psychological barrier.
3. Target 3: $155.0 (Further resistance potential)
If momentum continues, $155.0 could be a strong target where the uptrend may face some pullback or consolidation.
Stop Loss:
Stop Loss: $135.0 (below the support level)
Protect your position if QNT drops below $135. This is a safe stop considering the current price movement.
Trade Momentum:
Bullish Momentum: The price has been rising with a 24.96% increase. However, the 1-hour and 4-hour charts indicate a potential retracement, so it's crucial to enter when the price shows stability or a reversal signal.
Moving Averages: The price is above key short-term moving averages (50-period MA), supporting the bullish trend. Watch for a potential cross of the 200-period MA if the trend is to remain intact in the longer term.
RSI (Relative Strength Index): Currently at 70, indicating that QNT is nearing overbought conditions. Watch for a pullback or consolidation before entering.
Momentum Indicators:
MACD: The MACD is above the signal line, indicating bullish momentum. However, it is essential to watch for potential crossovers, which could signal a trend reversal.