The price of Quant (QNT) has dropped significantly to the bottom of the chart.
Long-term forecast for Quant price: bearish
According to price analysis by Coinidol.com, the negative momentum fell below the moving average lines and retested them before continuing lower. The bears broke through key support at $100 and reached a low of $85. The bulls then bought the dips and brought the price back above the critical support.Â
Quant is now trading above the critical support but below the moving average lines. The moving average lines and the resistance at $122 are currently limiting the uptrend.
QNT’s positive momentum will resume if buyers keep the price above the $122 barrier. At the time of writing, the exchange rate between QNT and USD was $107.
Analysing the quant price indicatorsÂ
On the 4-hour chart, the price bars remain stable above the moving average lines. The price bars are characterised by doji candlesticks, which make the price fluctuate slowly. The moving average lines descend horizontally before resuming their downward movement.
Technical indicators
Key supply zones: 140 $, 150$, 160 $
Key demand zones: 90 $, 80 $, 70 $
What is the next move for Quant?
After the recent rally, the price of QNT is currently consolidating above the critical support of $100. On the 4-hour chart, the altcoin is consolidating in a narrow range between $100 and $115. When the price of the cryptocurrency recovers, the uptrend will resume.
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.
