The MACD line of a 1-day chart is currently above the signal line and above the baseline, indicating that the momentum is quite bullish for Quant. This also shows that the buying pressure for QNT is quite high. Nonetheless, this retracement could see QNT create more space for growth in the coming months of April. Hence, the price has slightly retraced recently. The RSI of a 1-day chart recently hit above 70, meaning that QNT got overbought.
Furthermore, the EMA line may act as a support structure if the price retraces at the same rate. The 9- EMA is also currently below the price of QNT, indicating that the price is bullish in the shorter run as well. Key Structures Supportīoth the 20-MA and the 50-MA lines are currently quite below the price of QNT, meaning that the trend is now bullish for Quant and that the price may increase in the coming weeks or even months. The recent price movement has also created a descending wedge pattern, meaning that the price may eventually have a breakout as the wedge gets narrower, other things equal. Nonetheless, looking only at the past few months, QNT is still bearish, where an increase in the coming days could see the upper trendline be broken and lead to a trend reversal. The longer-term trendline is still bullish, which was recently tested and proved to be a strong support zone. The price has increased by more than 65% in these last few weeks, and the price of QNT is currently facing resistance at $155. The last week of February and the whole month of March were generally bullish for QNT in the daily chart. Nonetheless, the price retraced back close to $90, where it also found support. This increase was an indicator that the trend is reversing for QNT. Nonetheless, the price of QNT managed to have a correction after that, where it increased by around 90% and hit resistance at $160. This marked the lowest point of QNT since late July of 2021. In January alone, QNT dipped by an additional 60%, reaching as low as $85. Quant maintained this bearish approach in the new year as well. This had marked a decline of around 60% from its all-time high. QNT ended the year on a bearish note, where it fluctuated slightly below $200. Meanwhile, the technical indicator Relative Strength Index (14) is crossing above 60-level, suggesting that more bullish signals may play out.Quant (QNT) hit its all-time high in September of 2021 at a price of close to $430. However, in as much as the buyers keep the price above the 9-day and 21-day moving averages, traders may expect a strong bullish movement that could hit the resistance at $25,500 and above. On the contrary, if the selling pressure still exists and holds the coin does not follow the upward movement, the $22,000 and below may come into play. On the 4-hour chart, traders expect the coin to gain the lost momentum so that it could move towards the upper boundary of the channel. BTC/USD Medium-term Trend: Bullish (4H Chart) As revealed by the technical indicator, the market may gain more if the Relative Strength Index (14) crosses above the 60-level. On the downside, if the market decides to cross below $22,000 support, BTC/USD could head towards the lower boundary of the channel, and if that support fails to hold the sell-off, the Bitcoin price could see a further decline toward the support levels of $18,000, $16,000, and $14,000. However, any further bullish movement could hit the resistance level of $30,000, $32,000, and $34,000 respectively.
Meanwhile, looking at the market movement, there is likely that the Bitcoin price may experience a quick retracement or sell-off just in case it touches the crucial $22,000 support level but if not traders may see additional resistance levels of $25,000 and $26,000 before pushing higher. This is where traders should expect buyers to fight for a further rise in BTC/USD and further development of the bullish trend. If the Bitcoin price can cross above the 9-day moving average, it is likely for the market price to touch the $25,000 level. Bitcoin Price Prediction: Will BTC Break Above $25,000 Level or Reverse? For the past few days, the Bitcoin price has been moving sideways and in the context of the Bitcoin exchange rate forecast an application of $25,000 resistance is expected. BTC/USD is hovering at the $23,441 resistance level as the market price is above the 9-day and 21-day moving averages, indicating a bullish movement.
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