Quant (QNT) trading sideways below $120 mark
Quant (QNT) is currently experiencing a sideways trend below the resistance zone at $120. Despite previous upward movement, the altcoin has been unable to reach its previous high and has faced resistance at $120 three times. As of now, Quant is trading at $115.
Long-term forecast: range
The inability to break the $120 resistance level may result in Quant widening its trading range. However, if the resistance is broken, the altcoin could rise to a high of $150.
Quant Price Indicator analysis
The price bars of Quant are positioned on both sides of the moving average lines. Currently, the altcoin is above the 21-day SMA, indicating potential for further upward movement. However, a fall below the moving average lines would lead to a decline in cryptocurrency value. The long wick of the candle at the recent high suggests significant selling pressure at higher price levels.
Technical indicators
Important supply zones: $140, $150, $160
Important demand zones: $90, $80, $70
Next development for Quant
Since December 9, Quant has been unable to break the $120 resistance level. However, once this resistance is overcome, it is likely that the cryptocurrency’s value will rise. Further declines in Quant are not expected.
Hot Take: What lies ahead for Quant?
The current sideways trend and resistance at $120 indicate that Quant’s price movement is being restricted. Breaking this resistance level could lead to a significant increase in value for QNT/USD. On the other hand, failure to break this resistance may result in a wider trading range. Keep an eye on the price action to gauge the future direction of Quant.
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