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QUANT – ALTCOIN CHART ANALYSIS

 


Quant (QNT) is in a consolidation phase. At a higher level, however, we are still in a downtrend as we failed to form a higher high. 


We are currently trading at around USD 54 and thus above the weekly support S1. Trading volume has been declining significantly lately and could indicate a larger movement. The area around USD 60 is particularly important.


Here we have  formed a huge wick with lots of volume on the 4H chart . This could be the next target to close the short positions and then see another pullback.


We were able to form a small uptrend on the daily chart, but with a significantly decreasing trading volume. This is not a good sign and indicates weakness in this trend.


Again, the wick discussed above is clearly seen. Nevertheless, it is important that we can maintain this trend and hope for an increasing volume. Otherwise, QNT could fall into the $40 area again.


From here it went up suddenly and with a lot of volume, which is why we definitely have to reckon with this area again. The chances of a pump are significantly lower.

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