Updated: May 24, 2022
QUANT TECHNICAL ANALYSIS – KEY POINTS
Quant is also taking its share of the Crypto Market correction. Unlike Bitcoin and Ethereum correction (which they both have finalized 5 Wave Structure and continuing ABC correction), Quant is on its Wave 2 correction on Weekly Charts. This wave is also having ABC wave pat-terns and QNT is in the C Wave (of 2nd Wave) We expect the correction of Wave C to be continued until the Fibonacci zone at $45-70. Around the $45 level, Quant will have great support which can finalize the ABC Correction.
Below you can find out the weekly Heikin-Ashi chart and the analysis of Quant. As explained above, 1st Wave touched $430 and continued the 2nd Wave towards $45.
In terms of Ichimoku Clouds, Quant is below the clouds and waiting to proceed above the clouds with the 3rd Wave.
QUANT WEEKLY WAVE TREND INDICATOR
Quant on the weekly wave trend indicates a small bearish signal for QNT. This also confirms the corrective wave of C to continue until the last Fibonacci level at $45. The bearish signal also continues in the daily chart as well. The monthly chart doesn’t have a wave trend signal, yet. Quant seems that very close to the oversold area and will be experiencing the 3rd Wave reversal soon.
RELATIVE STRENGTH INDICATOR (RSI)
QNT RSI 14 days moving average is below the 50% level and around 33% which is in accordance with the above comments. Below 50% indicates a bearish action however, Quant seems more close to the reversal than BTC or ETH.
Similarly to the wave trend indicator, QNT hasn’t yet produced the monthly RSI. We will keep an eye on the correction as explained above and see if C Wave ends around $70-$45. I hope to see Quant finds the dip around these levels and jump towards $1-2k with the 3rd Wave. As always as a note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your actions when buying or selling an instrument.