QNT is up 28.5% with ONDO moving alongside it: RWA is trading as a group, and QNT is sitting right at its 30 day high.
Quant traded at $91.25, just under its 30-day high of $91.73, with open interest up 54% in 24 hours on volume running 4.5x its 7-day average.
The 50-week EMA sits at $73.26 well below current price, while the 200-week SMA at $93.91 sits just above it. If price clears that 30-day high and pushes through the 200-week SMA, it would be breaking into territory it hasn't traded at in this window. If it fails there, the next reference point is that same 50-week EMA far below.
What would make this wrong: The move has no matching news behind it, so if the RWA sector cools without ONDO holding its own strength, this looks like a positioning move that ran out of new buyers rather than a lasting sector shift.
Were you holding QNT before this move, or is this the first you're seeing of the RWA sector today?
Not advice.
Send me a chat with the word CHECK and I will send you the tool that sizes a trade on QNT.
Follow for the levels that matter, every day.
$QNT
#TradingPsychology #Crypto #CreviaCockpit
Quant traded at $91.25, just under its 30-day high of $91.73, with open interest up 54% in 24 hours on volume running 4.5x its 7-day average.
The 50-week EMA sits at $73.26 well below current price, while the 200-week SMA at $93.91 sits just above it. If price clears that 30-day high and pushes through the 200-week SMA, it would be breaking into territory it hasn't traded at in this window. If it fails there, the next reference point is that same 50-week EMA far below.
What would make this wrong: The move has no matching news behind it, so if the RWA sector cools without ONDO holding its own strength, this looks like a positioning move that ran out of new buyers rather than a lasting sector shift.
Were you holding QNT before this move, or is this the first you're seeing of the RWA sector today?
Not advice.
Send me a chat with the word CHECK and I will send you the tool that sizes a trade on QNT.
Follow for the levels that matter, every day.
$QNT
#TradingPsychology #Crypto #CreviaCockpit
