$QNT just gave the extension back — $211.54 closed under the $212.87 ceiling it broke this morning.
This morning's post asked one question: does the 12:00 hour close above $223.96, or does $212.87 take the extension back first? The tape answered it in two candles.
The 12:00 hour spiked to $223.96 but closed $218.79 — the leg-extends trigger never fired. Then the 13:00 hour opened $218.71, flushed to $209.81, and closed $211.54 on $3.39M. That is the first close back below $212.87 since the ceiling broke, and it is exactly the verdict the last post named: extension fails.
The forming 14:00 hour is still straddling the line — spiked to $218.45, dipped to $210.54, live around $213.30, back above the line intraday but unclosed. Its close is the next verdict, not this one: a close back above $212.87 puts the extension back on, a close below it confirms the fail.
Context, not hype: $QNT is still +14% on the day at ~$213.30, on $35.8M of Binance volume. Rank #35, $3.10B market cap — this is a large cap giving back a leg, not a microcap blowing up. RSI cooled from 84 to 71, and price still sits above EMA20 $200.94 and EMA50 $192.54. Failing extension, not a collapse — yet.
Levels: resistance is $212.87 now (an hourly close back above = extension back on), then $223.96. Support is $200, then $187.50, the floor reclaimed this morning.
Not a call, in either direction. A coin that ran $187.50 to $223.96 in a day can hand back a leg just as fast as it printed it — and it just started doing exactly that.
Does the forming hour close back above $212.87, or is $200 the next stop?