QNT Technical Analysis: Wedge Fallout Warns $100 Breakout

The QNT price action shows a bear cycle breaking below the rising wedge pattern teasing a downfall below the psychological mark of $100. Key Technical Points: The Quant (QNT) price has dropped by 12% in the last three days. The downtrend delays the golden crossover of the 50 and 200-days SMA. With a market cap of $1.36 billion, the intraday trading volume of Quant has decreased by 30% to reach $32.91 million. Past Performance of QNT As we mentioned in our previous analysis, the Quant (QNT) prices gain bearish momentum resulting in the rising wedge fallout. The market price decreased by 12% over the last three days, dropping below the support trend line. Moreover, the higher price action in the bearish candles reflects a phenomenal increase in selling pressure. Source – Tradingview QNT Technical Analysis The ongoing downtrend in the QNT prices may shortly test the psychological mark of $100 as the selling pressure increases. Hence traders can find short-term selling opportunities at the current market price. The decreasing gap between the 50 and 200-day SMA has been teasing the golden crossover, but the recent downfall postpones the bullish signal. Hence traders can expect its downtrend to take support at the 200-day SMA slightly below the $100 mark. The MACD indicator displays a bearish crossover of the fast and slow lines as the negative trend in the MACD histograms gains momentum. Moreover, the downtrend in the RSI slope tak...