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QNT Reached $114.48 and Entered a Correction – Will It Deepen to $112.30?
- QNT reached $114.48 and is correcting towards a potential $112.30, with a focus on key Fibonacci levels and EMAs for trend confirmation.
- The price structure shows a shift from higher highs to lower highs, with current support at EMA-50 after breaking EMA-20 and Fibonacci 0.236.
- RSI at 54.03 indicates a balanced market sentiment, with potential for deeper correction if it drops below 50, aligning with Fibonacci 0.382 and EMA-50.
- Key Fibonacci levels like 0.382 ($112.30) and EMA-50 are crucial consolidation and support zones, while breaking 0.5 ($110.54) might signal a trend breakdown.
- The market sentiment leans bullish with signs of deceleration; a recovery above $114.48 and EMA-20 could restore bullish momentum.
- Bullish scenario targets $117.50 with confirmation from EMA-20 and RSI above 60, while a bearish scenario eyes $110.54 with RSI falling below 50 for validation.
- Potential entry points include a bounce from $114.48 or a retest of $112.30 with RSI above 50, with stop below $110.54 if RSI drops below 50.
- In conclusion, monitoring key levels like $112.30 and $114.48 along with RSI behavior can provide insights into the continuation or potential end of the current trend.
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