QNT coin price breaks above the long-coming resistance trendline but struggles to surpass the 50-day EMA. Will the bulls succumb under selling pressure? Key technical points: The QNT coin price sustains above $100 The MACD and signal lines maintain a bullish continuation The 24-hour trading volume in the QNT token is $102 Million, indicating a 167% rise. Past Performance of QNT QNT price shows a reversal from the $100 mark and breaks above the long-coming resistance trendline with a growth of 15% last week. The lack of bullish momentum and the struggle to surpass the 50-day EMA reflects the possibility of a reversal. However, the reversal expectations were high as a retest of such a significant trendline breakout is normal. Hence, the bulls may find demand near the retest and surpass the $125 mark. Source-Tradingview QNT Technical Analysis The potential lower price rejection near the resistance trendline can be an excellent entry point for QNT bulls. The rally might surpass the 50-day EMA and test the $160 milestone that will result in a jump of almost 25%. The crucial daily EMAs project in the bearish alignment with a falling trend. Moreover, the constant rejections from the 50-day EMA hint at a high supply area moving along that may soon press the price below $100. Therefore, the breakout of the 50-day EMA will release the trapped bullish momentum. The MACD indicator shows the merged MACD and signal lines regain the bullish ...
