Cryptocurrency analysts report a new low for Quant (QNT) price
Cryptocurrency analysts have reported that the price of Quant (QNT) hit a new low of $84 on September 26, although bulls are currently buying the dips.
Quant long-term price forecast: bearish
The upward correction in the cryptocurrency’s price was halted at the 21-day line SMA, which has been preventing further price gains since September 11. Currently trading at $90.48, QNT is considered overbought at its current price level, indicating that it is unlikely to move higher. If QNT loses support at $84, it is at risk of falling even further.
Quant price indicator analysis
Quant recently entered the oversold zone but has since recovered. It currently sits at the 42 level of the Relative Strength Index for the period of 14. It is expected that buyers will increase in the oversold area, leading to a rise in prices. However, as long as the price bars remain below the moving average lines and below the daily stochastic level of 80, the altcoin’s price is expected to decrease.
Technical indicators
Key supply zones for QNT are $140, $150, and $160, while key demand zones are $90, $80, and $70.
What is the next step for Quant?
The cryptocurrency’s value has declined and could potentially decline further due to its recent upward correction being rejected. However, if QNT breaks out of its recent high, it may experience a rise in price, signaling another potential upward trend.
As we previously reported on September 23, QNT is currently trading between $90 and $94. The bears have already broken through this price range and reached the $89 level.
Hot Take: Quant faces uncertain future as bulls buy the dips
The price of Quant (QNT) has hit a new low, but bullish investors are taking advantage of the dip. However, the long-term forecast for QNT remains bearish, with the cryptocurrency’s upward correction being halted and overbought conditions present. While there is potential for a rise in price if QNT breaks out of its recent high, it also faces the risk of further decline. Traders should closely monitor QNT’s price movements and technical indicators to make informed investment decisions.
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