The Price of Quant (QNT) Continues to Fall as Bears Break Current Range
The latest price analysis reveals that the price of Quant (QNT) has been declining as bears break through the current price range. QNT is currently trading between $90 and $94, with the bears pushing it down to $89. Despite this decline, the bulls have bought the dips, causing the cryptocurrency’s value to rise above the $90 support level. However, the upward movement is limited by the 21-day line SMA and the current price range.
Quant Long Term Price Forecast: Bearish
If buyers manage to break through the resistance, QNT will continue its uptrend and surpass the moving average lines. This positive momentum will persist until it reaches its previous high of $110. For now, QNT has regained ground in the lower part of the chart.
Quant Price Indicator Analysis
The recent decline in QNT has led to an oversold market condition, with a Relative Strength Index of 26 for the 14-period. The decline is showing signs of bearish exhaustion as price bars remain below the moving average lines. The bullish momentum has also stalled above the daily stochastic threshold of 40.
Technical Indicators
Key supply zones for QNT are at $140, $150, and $160, while key demand zones are at $90, $80, and $70.
What’s Next for Quant?
Currently trading at the bottom of the chart, QNT is expected to see buyers emerge in the oversold zone and push prices higher. However, it may face resistance at its recent high due to limitations imposed by the moving average lines.
As reported on September 19, bears previously broke through the lower price level and reached a low of $90. The bulls then bought the dips, leading to QNT entering a new price range.
Hot Take: Quant Faces Bearish Pressure Amidst Resistance at Current Price Range
The price of Quant (QNT) has been on a downward trend as bears break through the current price range. Despite some buying support, the upward movement is limited by resistance from the moving average lines. However, if buyers manage to break through this resistance, QNT has the potential to continue its uptrend and reach its previous high of $110. Traders should closely monitor the price action and key technical indicators to determine whether QNT will overcome bearish pressure and resume its upward trajectory.
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