Long-term Quant price forecast: bullish
The altcoin Quant (QNT) is currently trading sideways below the $185 resistance level. It has been stuck between $85 and $116 since December 9. However, if buyers manage to break through the $116 resistance, the market could rally to a high of $132.
Despite fluctuating below the resistance level, there is an indication that Quant will continue to rise. The wick of the December 9 candle suggests strong selling pressure at higher price levels. If the price falls below the 21-day SMA, Quant will fall to its previous low of $95.
Analysis of Quant price indicators
The upward sloping moving average lines indicate that Quant is in an uptrend. The price bars above the moving average lines show the upward movement of the cryptocurrency. Currently, Quant is trading within a narrow range between the 21-day simple moving average and the resistance level of $116.
Technical indicators
Important supply zones: $140, $150, $160
Important demand zones: $90, $80, $70
What is the next move for Quant?
Quant is still on an upward trajectory and has reached a high of $116. If the rising momentum continues above the $185 barrier, it will return to its positive price trajectory. On the 4-hour chart, it is fluctuating between $105 and $117. Breaking these current price levels could initiate a trend.
Coinidol reported on December 9 that QNT had risen to $115.80 and may face rejection when reaching the next resistance level of $120.
Hot Take: QNT’s Sideways Trading Below Resistance Level Indicates Potential for Future Rally
Quant (QNT) is currently trading in a sideways pattern below the $185 resistance level. While it has been stuck between $85 and $116 since December 9, there are indications that the altcoin may continue to rise. The presence of strong selling pressure at higher price levels suggests that Quant’s price may fall if it drops below the 21-day SMA. However, if buyers manage to break through the $116 resistance, the market could rally to a high of $132. Technical indicators show that Quant is in an uptrend, with important supply zones at $140, $150, and $160, and important demand zones at $90, $80, and $70. The next move for Quant will depend on whether it can maintain its upward momentum above the $185 barrier.
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