QNT looks oversold enough to buy. At its core, the tape says the bounce is the trap.
I've been through the closes: $181.76 on Monday, $171 on Tuesday, $166.21 on Wednesday — down 15% in five sessions, now hovering near $162. Hourly RSI reads 29.7, oversold. But daily RSI is only 39.5, daily MACD is still widening negative, and price sits below the 20-day average at $192.65 and the 50-day at $181.91.
Futures traders aren't catching the knife: open interest fell 8.6% in a day and about $506K got liquidated. The cushion is the 200-day average at $121.55, far below — the long-term trend isn't broken, the short-term one is.
Support is $160, today's low; $158 and $150 sit below it. Resistance is $174.40, the daily pivot; the lower Bollinger band sits at $174.57. A daily close under $160 says the flush continues; a reclaim of $174.40 says the sellers are done.
Where does QNT close on Friday? Give me your number. 👇
NFA, DYOR.
$QNT #Altcoins #Quant #CryptoTrading
I've been through the closes: $181.76 on Monday, $171 on Tuesday, $166.21 on Wednesday — down 15% in five sessions, now hovering near $162. Hourly RSI reads 29.7, oversold. But daily RSI is only 39.5, daily MACD is still widening negative, and price sits below the 20-day average at $192.65 and the 50-day at $181.91.
Futures traders aren't catching the knife: open interest fell 8.6% in a day and about $506K got liquidated. The cushion is the 200-day average at $121.55, far below — the long-term trend isn't broken, the short-term one is.
Support is $160, today's low; $158 and $150 sit below it. Resistance is $174.40, the daily pivot; the lower Bollinger band sits at $174.57. A daily close under $160 says the flush continues; a reclaim of $174.40 says the sellers are done.
Where does QNT close on Friday? Give me your number. 👇
NFA, DYOR.
$QNT #Altcoins #Quant #CryptoTrading
