QNT is trading close to a crucial area of $156. This area has been a long term support area till Jan 2022 and after breaking this support area, we saw QNT quickly drop towards the lower weaker support areas.
$156 zone then turned into resistance and 4 attempts were made to break this resistance and the 4th attempt was successful where QNT broke $156 and is currently trading above this zone. If this resistance can be successfully flipped to support and QNT manages to stay above or around $156, we could start seeing a bullish trend in QNT and a move towards $179, $194, $206 and $218 is possible in the short term. Once $218 is reclaimed, we can see a move towards $235, $257, $319, $421, $522 and $585 in the long run.
Failure to trade above the support area of $156 could lead to a drop towards $137, $128 and $108.
$156 zone then turned into resistance and 4 attempts were made to break this resistance and the 4th attempt was successful where QNT broke $156 and is currently trading above this zone. If this resistance can be successfully flipped to support and QNT manages to stay above or around $156, we could start seeing a bullish trend in QNT and a move towards $179, $194, $206 and $218 is possible in the short term. Once $218 is reclaimed, we can see a move towards $235, $257, $319, $421, $522 and $585 in the long run.
Failure to trade above the support area of $156 could lead to a drop towards $137, $128 and $108.