$QNT /USDT Technical Analysis and Trade Signals:
Current Price: $141.4
24h High: $151.3
24h Low: $138.9
Technical Indicators:
Support Level: $138.9 (recent low)
Resistance Level: $151.3 (recent high)
Moving Averages:
50 MA: Neutral
200 MA: Bearish in short term
Momentum:
RSI (Relative Strength Index): Currently below 50, indicating bearish momentum.
MACD: Showing a bearish crossover, indicating a potential downward move.
Trade Targets:
1. Target 1: $138.9
Rationale: Price is nearing the support zone, and a short-term bounce from this level is possible. If this level holds, consider long positions targeting the next resistance.
2. Target 2: $145.0
Rationale: A retracement toward this level could occur if the price shows a brief recovery after testing support at $138.9. This level aligns with minor resistance.
3. Target 3: $151.3
Rationale: If the price breaks above $145.0 and gains upward momentum, this level serves as a strong resistance where profit-taking may occur.
Trade Momentum:
Bearish Short-Term: Currently, there is a short-term bearish bias due to the recent drop of -6.05%. Watch for a potential trend reversal near the support zone around $138.9.
Wait for Confirmation: A clear reversal signal (e.g., bullish candlestick pattern or RSI crossing above 30) would be needed to confirm a long trade.
Trade Setup:
Long: Enter positions near the support level around $138.9 with a stop-loss slightly below this level.
Take Profit: Target $145.0 and $151.3 for a gradual exit strategy.
Short: If the price fails to sustain above $138.9 and shows weakness, consider a short position targeting the lower support zones.
Trade Momentum Summary:
Bearish bias in the short term with potential for a reversal at support levels.