Quant (QNT) Price Prediction: Where Will the Breakout Occur?
The price of Quant (QNT) has been moving sideways recently, and you may be wondering when a breakout will happen. The current price chart shows that QNT is caught in a shuffle, with no clear direction.
Maker (MKR) Price Outlook: Bulls Defending Support Zone
The price of Maker (MKR) has experienced a rally in September but has seen a downturn in October, dropping by over 13% in the last 10 days. The question is whether this is just a short-term dip or a sign of a more significant market correction.
Technical indicators for MKR are mixed, as the price hovers near a key support zone. If the price breaks below the 20-day EMA and Fib 0.382 support, it could lead to further declines. However, oversold RSI readings suggest that a bounce may be on the horizon.
The 20-day EMA acts as an initial support or resistance level and currently stands at $1,389 for MKR. A close below this moving average could turn it into resistance during any bounce attempts. The 50-day EMA sits at $1,387, indicating indecision in the market.
The RSI on the daily timeframe shows waning upward momentum but remains outside oversold territory. The MACD histogram reflects building downside momentum, potentially leading to more declines for MKR.
Market Cap and Volume Indicate Selling Pressure
The market cap for MKR has dropped by 1.46% to $1.34 billion, while the 24-hour volume has surged by 48.50% to $52.56 million. These numbers suggest that sellers currently have control in the market.
The MKR price is currently testing an immediate support zone between $1,338 and $1,380. Bulls need to defend this area to prevent a steeper drop towards the psychological $1,000 level. On the upside, initial resistance lies between $1,533 and $1,600.
While oversold readings indicate the potential for a bounce, MKR’s technical picture remains fragile below pivotal EMAs. Traders may want to wait for a break outside of the $1,338-1,600 range before making their next move and should employ prudent risk management given the volatile conditions.
Hot Take: Proceed with Caution in the Current Market
The current market conditions for both Quant (QNT) and Maker (MKR) are uncertain. While there are signs of potential bounces and support zones, it is important to approach trading with caution. The sideways shuffle of QNT and the mixed technical indicators for MKR make it difficult to predict clear breakouts or trends. Keep an eye on key support and resistance levels, as well as volume indicators, to make informed trading decisions. Remember to manage your risks carefully and wait for significant price movements before making your next move.
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