Market Structure & Trend Analysis
QANX/USDT is currently trading within a long-term symmetrical triangle pattern, marked by a series of higher lows and lower highs. The price is approaching a critical resistance zone around $0.05672, which aligns with the descending trendline acting as dynamic resistance. A breakout above this level could signal the start of a new bullish phase.
Key Levels to Watch
Support Levels:
$0.03421 – A crucial horizontal support that has provided strong demand in the past.
$0.04243 – A short-term support level, aligning with previous consolidation zones.
Resistance Levels:
$0.05672 – Key resistance at the trendline; a breakout here could trigger further upside momentum.
$0.08000 – Secondary resistance where past rejections have occurred.
$0.16000 – Ultimate bullish target if price clears previous key resistance zones.
Indicators & Momentum Analysis
Moving Averages: The price is trading above the 4 EMA cluster, suggesting short-term bullish momentum. If the price holds above these levels, further upside is likely.
RSI (Relative Strength Index): Currently at 68.52, indicating bullish momentum but nearing overbought territory. If RSI crosses 70, a short-term correction might occur before a breakout.
Volume: With 1.62M in trading volume, liquidity remains strong, and any breakout should be confirmed with a volume surge.
Trading Plan & Targets
Bullish Scenario
If QANX/USDT successfully breaks and closes above $0.05672, it could target: ✅ First Target: $0.08000 – Mid-range resistance.
✅ Second Target: $0.16000 – Major resistance and previous liquidity zone.
Bearish Scenario
If rejection occurs at the resistance zone and price loses $0.04243, a retest of the $0.03421 support could follow. A breakdown below this level may invalidate the bullish setup.
Conclusion
QANX/USDT is at a decisive point, with the potential for a breakout in either direction. The key confirmation will be a daily close above $0.05672 with strong volume. Traders should watch for RSI conditions and volume spikes before entering positions.
QANX/USDT is currently trading within a long-term symmetrical triangle pattern, marked by a series of higher lows and lower highs. The price is approaching a critical resistance zone around $0.05672, which aligns with the descending trendline acting as dynamic resistance. A breakout above this level could signal the start of a new bullish phase.
Key Levels to Watch
Support Levels:
$0.03421 – A crucial horizontal support that has provided strong demand in the past.
$0.04243 – A short-term support level, aligning with previous consolidation zones.
Resistance Levels:
$0.05672 – Key resistance at the trendline; a breakout here could trigger further upside momentum.
$0.08000 – Secondary resistance where past rejections have occurred.
$0.16000 – Ultimate bullish target if price clears previous key resistance zones.
Indicators & Momentum Analysis
Moving Averages: The price is trading above the 4 EMA cluster, suggesting short-term bullish momentum. If the price holds above these levels, further upside is likely.
RSI (Relative Strength Index): Currently at 68.52, indicating bullish momentum but nearing overbought territory. If RSI crosses 70, a short-term correction might occur before a breakout.
Volume: With 1.62M in trading volume, liquidity remains strong, and any breakout should be confirmed with a volume surge.
Trading Plan & Targets
Bullish Scenario
If QANX/USDT successfully breaks and closes above $0.05672, it could target: ✅ First Target: $0.08000 – Mid-range resistance.
✅ Second Target: $0.16000 – Major resistance and previous liquidity zone.
Bearish Scenario
If rejection occurs at the resistance zone and price loses $0.04243, a retest of the $0.03421 support could follow. A breakdown below this level may invalidate the bullish setup.
Conclusion
QANX/USDT is at a decisive point, with the potential for a breakout in either direction. The key confirmation will be a daily close above $0.05672 with strong volume. Traders should watch for RSI conditions and volume spikes before entering positions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.