The QNT price action prepares a bearish reversal possibility within a rising wedge pattern teasing a price drop to the support trendline close to $120. Key Technical Points: The Quant (QNT) price has increased by almost 66% in the last month. The 50 and 200-day SMA are on the verge of a bullish crossover. With a market cap of $1.51 billion, the intraday trading volume of Quant has dropped by 12.57% to reach $25 million. Past Performance of QNT The Quant (QNT) price shows a bullish reversal from the $43 support level to exceed all the crucial bearish SMAs in the daily chart. The bull run accounts for a 200% jump over the past two months to reach the overhead resistance at $130. Moreover, the price action has recently taken the shape of a rising wedge pattern with the formation of an ascending resistance trendline. Currently, the prices trade near the resistance trendline, maintaining a sideways trend and teasing a potential bear cycle. Source – Tradingview QNT Technical Analysis The higher price rejection candles struggling to rise above $130 take a lateral shift within the rising wedge pattern. Hence traders can expect a bear cycle with a 6-7% drop testing the support trendline. Moreover, the increasing bullish gap between the 50 and 100-day SMA projects the possibility of a golden crossover. The daily RSI slope maintains a diagonal trend with bearish inclination crossing below the overbought boundary and a 14 days average lin...
