Let's see if $QNT offers new trade opportunities!

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It is Friday and that means that we are going to take a look at some altcoins. We do this every Friday in our Trade Letter! The markets have been pretty boring lately, but you can always find some opportunities when you scan through the market in the right way.

In Today's Trade Letter we discussed the following coins: $QNT, $APT, $LINK and $XRP. However in this blog we only take a look at $QNT!


QNT - Quant

QNT/USDT

1-Day timeframe

See the full chart here!

The run of QNT has been insane over the last couple of months. We have printed a low of $40.1 on the 13th of June 2022. From that moment we are in a really strong uptrend. On Monday the 17th of October 2022 we printed a high on the chart of $228. This means that we had a price increase of around 472%! But where could we find new opportunities on QNT?

See the full chart here!

Looking at the chart for QNT from a price action perspective, you can see that we broke out of the resistance area of $148-159 and we have retested this area for support and we are currently bouncing from this area. If we get further continuation on QNT it is likely that we will reach the area around $229. This level contains relative equal highs which is a place that contains a lot of liquidity. Price is seeking liquidity most of the time hence why it is likely that the price will draw to this area when we sustain the upwards momentum.

1-Hour timeframe

See the full chart here!

Zooming in on the 1-hour timeframe of QNT tells us the following. We are in a downtrend in this specific timeframe. It is important to break this downtrend and this could happen by gaining the resistance area at $176-178. If we are able to flip this area for support it is likely that we get another retest of the $191.6 level. If we maintain the temporary downwards momentum, it is possible that we are going to test the level of $158.8.

As we mentioned above, every Friday we discuss multiple Altcoins! In Today's Trade Letter we discussed the following coins: $QNT, $APT, $LINK and $XRP. However in this blog we only take a look at $QNT!

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