Introduction
In this video, cryptocurrency analyst JB provides a technical analysis of Quant (QNT) on the 1-hour, 1-day, and 1-week timeframes. JB discusses the recent explosive move to the upside, the completed move to the downside, and the potential for another rally.
Explosive Upside Move
JB begins by discussing the explosive upside move that QNT has experienced recently. QNT has rallied from a low of $83.89 to a high of $105.50 in a short period of time. This represents a gain of over 25%.
Completed Move to the Downside
JB notes that there was a completed move to the downside before the recent upside rally. This move took QNT to a low of $83.89. The completion of this move suggests that QNT is now in a bullish uptrend.
Potential for Another Rally
JB believes that there is the potential for another rally in QNT. He has identified a target price of $111 to $114 for the next rally. This target is based on the technical analysis indicators, such as the stochastic RSI.
Technical Analysis Indicators
JB discusses the technical analysis indicators that he is using to analyze QNT. He mentions the stochastic RSI, which is a momentum indicator that measures the overbought and oversold conditions of an asset. The stochastic RSI is currently showing that QNT is overbought, but it is still below the overbought level of 100. This suggests that there is still room for QNT to rally further.
Expectations for a Potential Pullback and a Weekly Close Analysis
JB expects QNT to experience a potential pullback before continuing its rally. He believes that QNT will likely retrace to the $100 to $102 level before continuing its move higher. JB also recommends that traders watch the weekly close of QNT. If QNT can close the week above the $105 level, it will be a bullish sign.
Liking, Subscribing, and Trading Safely
JB reminds viewers to like, subscribe, and trade safely. He also apologizes for having a cold and the audio quality issues.
