Quant (QNT) Price Analysis: What’s Next for the Cryptocurrency?
Quant (QNT) has been maintaining its price above the $91.50 support level but below the moving average lines. Let’s dive into a detailed analysis of the long-term forecast for the price of Quant.
Long-term Price Forecast for Quant: Range Bound
– The price of Quant is closely tied to the moving average lines, indicating a sideways trend in the market.
– Despite breaking above the 21-day SMA, buyers have struggled to sustain the price above the 50-day SMA.
– If buyers manage to break the resistance at $105 or the 50-day SMA, the market could reach its first target at $125.
– Currently, QNT is trading above the 21-day SMA support level at $98.97, but a breakdown below this could lead to a retracement to the previous low of $91.50.
Quant Price Indicator Analysis
– On May 20, the altcoin experienced a rally that pushed the price between the moving averages.
– Price bars on the 4-hour chart are indicating a potential rise in QNT’s value.
– QNT is currently trading in a range between $91.50 and below $105.
Technical Indicators
– Key supply zones: $140, $150, $160
– Key demand zones: $90, $80, $70
What’s Next for Quant?
– Quant is currently trading within a range, with the upside capped by the 50-day SMA and resistance at $105.
– The 21-day SMA is in close proximity to the price bars, indicating a potential breakout.
– Previous reports highlighted QNT’s downtrend, reaching a low of $94 on May 15.
Hot Take: Are You Ready for Quant’s Next Move?
With Quant (QNT) maintaining its price above the $91.50 support level, but facing resistance at $105, the cryptocurrency is in a crucial phase. Keep an eye on the moving averages and key price levels to anticipate QNT’s next move in the market.
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