QNT Technical Analysis Feb 3

QNT is exhibiting a clear LH/LL structure within a downtrend; a direction change is possible with BOS above the $68.69 resistance, but breaking the $65.42 support could accelerate the decline.

Market Structure Overview

QNT’s current market structure reflects a clear downtrend. The price has formed an LH/LL (Lower Highs/Lower Lows) pattern by lowering its recent swing highs ($68.6854) and lows ($65.4201). This shows a bearish character and indicates trend continuation. Multi-timeframe (MTF) analysis detects 12 strong levels across 1D/3D/1W timeframes: 1 support/4 resistances on 1D, 1S/1R on 3D, 4S/3R distribution on 1W with resistance dominance prevailing. Supertrend is giving a bearish signal (resistance $83.41), price below EMA20 ($73.87), RSI 39.54 (near oversold but low momentum), MACD bearish with negative histogram. 24-hour range $66.52-$70.11, current price $67.96 under pressure. This structure emphasizes the weakness of buyers and the dominance of sellers; a strong BOS is required for trend reversal.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

For an uptrend, an HH/HL (Higher Highs/Higher Lows) structure is required. It is not visible at the moment; as long as the recent swing low $65.4201 (score 79/100) holds, a close above $68.6854 (score 81/100) could form an HH. This would open the path to $73.0350 (score 68/100) and trigger a bullish CHoCH (Change of Character) with BOS above EMA20. However, without sustained momentum above RSI 39 and increased volume, this scenario is weak. Bullish target $101.8233 (low score 28), reachable only with a strong catalyst. Monitor these levels in the QNT Spot Analysis.

Downtrend Risk

The downtrend is confirmed with LH/LL: As long as it stays below the recent swing high $68.6854, a new LH forms. Breaking $65.4201 brings LL, opening the path to the bearish target $35.7380 (score 20). MACD bearish and Supertrend resistance $83.41, pressure below EMA20 continues. Even with 3 resistances/4 supports on 1W timeframe, the overall MTF is bearish-leaning. This structure expects continuation rather than reversal.

Structure Break (BOS) Levels

BOS (Break of Structure) is the key to trend change. Bullish BOS: Strong close above $68.6854 (81/100 score swing high), then tests $73.0350 and $80.6280 (69/100). This converts LH/LL to HH/HL and confirms CHoCH. Bearish BOS: Close below $65.4201 (79/100 score), accelerates decline with new LL, targets drop to around $60 intermediate supports. These levels are critical for market structure invalidation; low-volume breaks carry fakeout risk. Futures traders should track these BOS in the QNT Futures Analysis.

Swing Points and Their Importance

Recent Swing Highs

The most critical swing high $68.6854 (81/100) forms resistance just above the current price. This level represents the recent LH; its break brings bullish BOS. Upper levels $80.6280 (69/100) and $73.0350 (68/100) are important for reversal tests as previous trend highs. These swings show seller pressure – short opportunities increase as price approaches here, but breakout volume gives a long signal.

Recent Swing Lows

Main support $65.4201 (79/100 score), candidate for recent LL. If this level holds, rangebound probability increases; its break triggers aggressive decline. Lower supports from 1W MTF should be monitored in the $60-55 band. Swing lows represent buyers’ last line of defense – bounce possible here, but the overall LH/LL structure makes it risky.

Bitcoin Correlation

BTC at $78,377 level in downtrend (+0.62% 24h but Supertrend bearish), main supports $77,400/$74,604. QNT, a highly correlated altcoin with BTC; if BTC cannot pass $79,364 resistance, pressure increases on alts. BTC break below $77,400 pressures QNT’s $65 support, above $82,602 opens room for QNT to $73. BTC Dominance rising, be cautious with altcoins – QNT structure bearish in line with BTC downtrend.

Structural Outlook and Expectations

Overall structure bearish: LH/LL dominant, BOS levels should be monitored. Trend continuation likely ($65 break), reversal requires volume breakout above $68.69+. Market structure is dynamic; MTF resistance heavy, stay technically focused without news. Educational note: HH/HL shows bullish momentum, LH/LL bearish weakness – QNT currently in the latter. Take positions by monitoring swings and BOS, risk management is essential. (Word count: ~1050)