Contracting triangle that’s been simmering for a while now. Saw spurts of positive price action today, followed by long lulls, as if it was presaging joyful tidings, but not before many comedowns.
Several indicators of significance point to explosive price action upwards in the coming day or days.
- First, has picked up considerably, jumping to 67 from 40k QNTs traded yesterday vs. the day before; it will probably pick up more today as more people trade this oscillation.
- Next, the (blue) line crossed up the orange signal line on the daily just before midnight UTC . This means the 12-day has now surpassed the 26-day, suggesting near-term sentiment. The last time this happened with QNT , on the 4th of September, its price opened at ≈$187 that day and closed at $223, which alone represents a 20% gain. Yesterday we opened at 291 and closed at 312, representing a 7% increase (the high of $320 represents a 10% gain). Not as jaw-dropping, but the price today is a lot higher than a month ago.
- The rally didn’t stop there; it continued over the next almost 2 weeks, which ultimately saw its price appreciate all the way to $428 a week later on the 11th before the line crossed back down the signal line at $346, on the 17th. Even if you waited that long to cash out, you’d have earned a nice chunk of change–almost twice your initial investment (85% gain more precisely).
- Last but not least, I sold $2000 of CRV to swap for this token when it was @ $4.11, and QNT was $317, lol. So it better provide damn good returns.
The upshot? Be patient with this one! If you bought some today, hold it for a couple days at least if you don’t see immediate great dividends. Trade the trend, and believe in them triangles, as I like to say.
Peace and crabs.
Published at Mon, 25 Oct 2021 21:04:39 -0400