The price of Quant (QNT) has fallen below the moving average lines but remains above the $106 support. Price analysis by Coinidol.com.
Long-term forecast for Quant price: bearish
The $106 support has been maintained since January 8, 2024. On January 23, 2024, the bears broke the current support as the cryptocurrency fell to a low of $100. Conversely, the bulls took the opportunity created by the dips to push the price above the current support level. QNT is now worth $108. The upside correction faces another rejection at the $111 high as the altcoin falls again.
If the bears violate the existing support and maintain the downtrend, QNT will fall to the predicted price level. In other words, the market will reach a low of $79.
Analysing the Quant Price Indicators
The QNT price bars are still below the moving average lines despite the recent upward correction. The moving average lines are trending south and the 21-day SMA is holding the resistance line of the price bars. Price activity is characterised by doji candlesticks.
Technical Indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next move for Quant?
The altcoin is still in a gloomy trend and could go lower. On the 4-hour chart, QNT is now trading above the current support of $100. The cryptocurrency is falling after being rejected at $111. If the bears break the current support of $100, the selling pressure will increase again.
Since January 8, 2024, sellers have retested the $106 support three times but have failed to resume selling pressure, as reported by Coinidol.com previously.
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 the research before investing in funds.
