Quant Price Analysis: Bearish Forecast
The latest price analysis of Quant (QNT) suggests that the cryptocurrency’s price is falling below the moving average lines. Currently, there is selling pressure easing above the $85 support level. QNT has been trading between $85 and $93 since September 26, but the 21-day line SMA has been preventing further price increase. The altcoin is currently on the rise but is being held back by either the $87 high or the 21-day line SMA. If the support at $85 is broken, a renewed downturn will begin. However, if QNT bounces back above $85, it will resume its climb.
Quant Price Indicator Analysis
The 21-day line SMA and the 50-day line SMA are forming a barrier line that slopes downwards. The price bars are within a range but below the moving average lines. If the lower price range is broken, QNT will experience a fall. Currently, the altcoin is heavily oversold and a further decline is unlikely.
Technical Indicators
Key supply zones for QNT are $140, $150, and $160, while key demand zones are $90, $80, and $70.
What’s Next for Quant?
QNT/USD has been trading above the $85 support level for over two weeks. However, it is currently trading at its bottom position on the chart. If QNT is rejected at its current price of $87, it will likely experience a fall.
According to cryptocurrency analytics specialists, the upward movement of QNT’s price has been halted by the moving average lines.
Hot Take: Quant Faces Bearish Pressure
The latest price analysis of Quant indicates a bearish forecast for the cryptocurrency. Selling pressure is currently easing above the $85 support level, but the altcoin’s price is being held back by resistance at either $87 or the 21-day line SMA. If the support at $85 is broken, QNT will experience a renewed downturn. However, if it bounces back above $85, it will resume its climb. The altcoin is currently heavily oversold, and further decline is unlikely. Key supply zones for QNT are $140, $150, and $160, while key demand zones are $90, $80, and $70.
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