I'm always on the lookout for high-potential setups, and Quant (QNT) is currently flashing some very compelling signals. Here's why I'm bullish on this trade:
1. Descending Wedge Pattern: #QNTUSDT has been trading within a descending wedge, a pattern that typically signals a bullish reversal. The price action is now approaching the wedge's apex, indicating a potential breakout.
2. Volume Analysis: There's been a noticeable increase in volume as the price nears the breakout point. This suggests growing interest and accumulation, often a precursor to a significant move up.
3. Support Levels: The current price level is sitting on a strong support zone around $75, which has historically acted as a solid floor. This minimizes downside risk while offering a favorable risk-reward ratio.
4. Relative Strength Index (RSI): The RSI is recovering from oversold territory, indicating that selling pressure is waning and buyers are starting to take control.
5. Target Projection: Based on the height of the wedge, the projected price target for QNT after the breakout is around $115, offering a substantial upside from the current levels.
In summary, the technical indicators for QNT are aligning perfectly for a bullish trade. The descending wedge pattern, increased volume, solid support levels, and favorable RSI are all pointing towards a potential breakout and significant gains. This setup offers a great opportunity for traders looking to capitalize on a high-probability trade.
⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link:
1. Descending Wedge Pattern: #QNTUSDT has been trading within a descending wedge, a pattern that typically signals a bullish reversal. The price action is now approaching the wedge's apex, indicating a potential breakout.
2. Volume Analysis: There's been a noticeable increase in volume as the price nears the breakout point. This suggests growing interest and accumulation, often a precursor to a significant move up.
3. Support Levels: The current price level is sitting on a strong support zone around $75, which has historically acted as a solid floor. This minimizes downside risk while offering a favorable risk-reward ratio.
4. Relative Strength Index (RSI): The RSI is recovering from oversold territory, indicating that selling pressure is waning and buyers are starting to take control.
5. Target Projection: Based on the height of the wedge, the projected price target for QNT after the breakout is around $115, offering a substantial upside from the current levels.
In summary, the technical indicators for QNT are aligning perfectly for a bullish trade. The descending wedge pattern, increased volume, solid support levels, and favorable RSI are all pointing towards a potential breakout and significant gains. This setup offers a great opportunity for traders looking to capitalize on a high-probability trade.
⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link:
Trade active
Trade closed: stop reached
Close: stop reached
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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.