Cryptocurrency Price Analysis: Quant (QNT) Falling Below Moving Average Lines
The price of Quant (QNT) is currently falling below the moving average lines, indicating a bearish long-term price forecast. The positive trend of the cryptocurrency has been halted by the resistance of the moving average lines. Whenever QNT tests or breaks these lines, its price tends to drop even lower.
Quant Price Movement
In early October, QNT broke through the 21-day line SMA, reaching a high of $92 before being rejected. The altcoin experienced a dip and reached a low of $84, with a possibility of further decline. As of now, QNT/USD is trading at $88.
Quant Price Indicator Analysis
The price bars for QNT are consistently below the moving average lines, resulting in a pattern of lower highs and lower lows. This indicates a clear downtrend in the cryptocurrency market.
Technical Indicators
Key supply zones for QNT are at $140, $150, and $160. On the other hand, key demand zones are at $90, $80, and $70.
Next Move for Quant
Currently, QNT/USD is still falling below the moving average lines, particularly the 50-day line SMA and 21-day line SMA. The cryptocurrency’s price has been hovering above the support level of $85 since September 26. If this support is breached, the coin is likely to continue its downward trajectory.
Last week, it was reported that the upward correction of QNT’s price was hindered by the 21-day line SMA since September 11.
Hot Take: Bearish Long-Term Forecast for Quant (QNT)
The price of Quant (QNT) is currently facing resistance from the moving average lines, resulting in a bearish long-term forecast. Despite a brief upward movement in early October, the cryptocurrency has been unable to sustain its positive trend. The price bars consistently fall below the moving average lines, indicating a clear downtrend. If the support level of $85 is breached, QNT is likely to continue its decline. It’s important to closely monitor these key indicators and levels to make informed investment decisions.
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