QNT Technical Analysis: Quant Above $100, But For How Long?

QNT price chart shows the recovery rally exceeding the psychological mark of $100 and challenges the 200-day EMA to reach the $133 swing high. The bullish reversal from the $87 support level or the 50% is the QNT price higher by 22% within five days, resulting in a streak of the bullish candle. However, the streak of bullish candles takes a hit at the 200-day SMA as the uptrend struggles to beat the suddenly increased selling pressure. So, will the prices sustain above the psychological mark of $100 or take a bearish reversal to complete the head and shoulder pattern? Key Points: The Quant price action shows a power struggle at the 200-day EMA. The buyers above the $100 mark lead to lower price rejection in the daily candle. The intraday trading volume in Quant is $26.82 million. Source – TradingView QNT Technical Analysis The falling QNT prices take support at the 50% Fibonacci level close to the $87 support level leading to a bullish turnaround. As mentioned in our previous analysis, the bullish reversal displayed a phenomenal increase of 22% within a week, with increased intraday trading volumes to reclaim the $100 mark. The bull run leads to a five days streak of green candles, which exceeds the 50 and 100-day EMA but struggles at the 200-day EMA. However, the increasing trading volume and the long-wick candles increase the breakout possibility. If the QNT market value exceeds the 23.60% Fibonacci level at $112, the sideli...