📊 Technical Analysis: $QNT
/USDT on Binance
Current Market Overview:
Price: $115.1 (+8.08%)
24h Range: $104.8 - $115.6
Volume: $2.67M (USDT) / 24,695.97 QNT
Market Sentiment: Bullish momentum in the short term.
Moving Averages (MA):
MA(7): $113.0 (Short-term bullish crossover confirmed as price trades above MA(7)).
MA(25): $109.8 (Indicates mid-term momentum support).
MA(99): $107.3 (Strong long-term support level).
The current price trading above all major MAs suggests bullish continuation, with support consolidation forming near MA(25) and MA(99).
Technical Indicators:
1. RSI (Relative Strength Index): Suggests a slightly overbought condition, indicating potential resistance near $115.6. However, RSI has room for upward movement before a reversal.
2. MACD (Moving Average Convergence Divergence): Bullish crossover points toward positive momentum.
3. Bollinger Bands: Price is nearing the upper band, signaling potential volatility. A breakout could drive price action further upward.
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🎯 Price Targets:
1. Target 1: $118.5
Immediate resistance aligned with psychological levels and Fibonacci retracement.
Short-term traders may book profits here.
2. Target 2: $124.0
Strong resistance zone based on previous swing highs in the last 3 months.
Bullish momentum and volume need to sustain for this breakout.
3. Target 3: $130.0
Major target aligned with long-term resistance.
Achievement depends on market sentiment and sustained buying pressure.
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Support Levels:
$113.0 (MA-7)
$109.8 (MA-25)
$107.3 (MA-99)
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📌 Strategy:
Short-term Traders: Watch for profit-taking near $118.5 with tight stop-loss below $113.0.
Long-term Investors: Accumulate near support levels ($109-$107) for potential upside toward #BitcoinInSwissReserves #MicroStrategyStockSale #BinanceAlphaAlert #BTCMiningPeak #BTC94KShowdown