Quant (QNT) Price Analysis: Bulls Pushing Towards Resistance
The price of Quant (QNT) is showing signs of a bullish trend, according to cryptocurrency analysts. The altcoin has broken the 21-day barrier line of the simple moving average (SMA) and is now trading above it. However, it is still below the 50-day SMA. At the time of writing, QNT has reached a high of $89. If the bulls manage to break the 50-day SMA and the resistance at $94, the altcoin is expected to continue its uptrend and reach a high of $114.
Quant Price Indicator Analysis
The breakout above the 21-day resistance line SMA suggests that QNT will continue to oscillate between the moving average lines. While the altcoin has regained bullish momentum, the moving average lines are still down. This indicates that QNT’s price bars are above the moving average lines in the lower time frame, indicating a rising trend.
Technical Indicators
Key supply zones for QNT are identified at $140, $150, and $160, while key demand zones are at $90, $80, and $70.
What’s Next for Quant?
The positive trend for QNT/USD suggests that it will rise further than its previous high. According to Fibonacci analysis, QNT is predicted to grow to the level of 2,618 Fibonacci extension or $92.66. However, it should be noted that further upward movement is speculative as the market approaches the overbought zone.
Selling Pressure Easing Above Support
Recent reports indicate that selling pressure on QNT is easing above the $85 support level. The altcoin’s price has been hovering between $85 and $93 since September 26, with the 21-day SMA acting as a barrier to higher price action.
Hot Take: Bulls on the Rise for QNT
Quant (QNT) is currently experiencing a bullish trend, breaking through the 21-day SMA resistance line. If the bulls can surpass the 50-day SMA and resistance at $94, QNT is expected to continue its uptrend towards a high of $114. However, further upward movement should be approached with caution as the market approaches overbought territory. The easing of selling pressure above the $85 support level suggests a positive outlook for QNT in the near term.
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