The price of Quant (QNT) has regained its positive momentum and has risen above the moving average lines.
Long-term forecast for Quant price: bullish
This will be the first time that the altcoin regains positive momentum above the moving averages. Since the price drop on January 8, 2024, quant has been trading in the downtrend zone and above the $100 support. On March 2, the altcoin climbed to a high of $132 before falling back.Â
The current rise could continue if the altcoin falls back above the current support level of $120. On the upside, if the current resistance of $132 is broken, QNT will return to its previous high of $145. Meanwhile, the altcoin is trading above the moving average lines.
Analysis of quant price indicatorsÂ
QNT has resumed its positive trend as the price bars remain above the moving average lines. The altcoin fell in the previous price action as the price bars remained below the moving average lines. Currently, the price of the cryptocurrency is expected to rise as it is trading in the bullish trend zone.
Technical indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next development for Quant?
QNT is in an uptrend on the 4-hour chart, but this was halted at a high of $127. The altcoin is trading between $130 and $135. The price of the cryptocurrency is holding above the 21-day SMA in anticipation of a rise. On the downside, the long candlestick tail indicates strong buying above the moving average lines.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
