$QNT It lost steam both times it pushed past 300. This market is now a classic case of “out of sight, out of mind.”
Guys, take a look at QNT’s price action. I really can’t help but vent a little.
It once traded above 370, then bounced above 300 twice—and both times it was like a helpless fool: it went up, then immediately lost steam. When it broke 300, lots of people were saying this coin was the next ZEC. What about now? Apart from the bulls stuck above 300, nobody even looks at it anymore. I bet those holders are getting pretty nervous.
Put simply, the excitement has faded and people don’t want to touch it anymore. The first time it surged to 300, everyone was calling for a new high. The second time, it clearly had no momentum and got sold off as soon as it moved up. It failed to break through the same level twice, which means someone up there is determined to sell.
This sideways action isn’t the calm before a big move. Those who needed to cut their losses have done so, and those who wanted to get out have left. Everyone else is playing dead. Volume hasn’t picked up, and volatility keeps shrinking—this is a textbook case of “out of sight, out of mind.”
There’s a pile of underwater holders between 260 and 280 waiting to break even. There’s some support around 240, but below that there’s no volume, no sentiment, and no direction. This is a market to watch from the sidelines—don’t read too much into it.
I’m not going to guess when it’ll move. I’ll wait for it to break above 280 on strong volume, or drop to around 220 and stabilize, before deciding whether to get involved.
If you’re thinking of buying, I wouldn’t recommend entering at this stage. Wait for it to pick a direction. If you’re unsure what to do, come chat with us: #币安推出BinanceIntelligence
Guys, take a look at QNT’s price action. I really can’t help but vent a little.
It once traded above 370, then bounced above 300 twice—and both times it was like a helpless fool: it went up, then immediately lost steam. When it broke 300, lots of people were saying this coin was the next ZEC. What about now? Apart from the bulls stuck above 300, nobody even looks at it anymore. I bet those holders are getting pretty nervous.
Put simply, the excitement has faded and people don’t want to touch it anymore. The first time it surged to 300, everyone was calling for a new high. The second time, it clearly had no momentum and got sold off as soon as it moved up. It failed to break through the same level twice, which means someone up there is determined to sell.
This sideways action isn’t the calm before a big move. Those who needed to cut their losses have done so, and those who wanted to get out have left. Everyone else is playing dead. Volume hasn’t picked up, and volatility keeps shrinking—this is a textbook case of “out of sight, out of mind.”
There’s a pile of underwater holders between 260 and 280 waiting to break even. There’s some support around 240, but below that there’s no volume, no sentiment, and no direction. This is a market to watch from the sidelines—don’t read too much into it.
I’m not going to guess when it’ll move. I’ll wait for it to break above 280 on strong volume, or drop to around 220 and stabilize, before deciding whether to get involved.
If you’re thinking of buying, I wouldn’t recommend entering at this stage. Wait for it to pick a direction. If you’re unsure what to do, come chat with us: #币安推出BinanceIntelligence
