Potential for a Drop to $91 Looms as Quant Price Stagnates

Potential for a Drop to $91 Looms as Quant Price Stagnates

The Falling Price of Quant (QNT)

Quant (QNT) has been experiencing a decrease in price after breaking through resistance at $110 on three separate occasions. This has led to a bearish long-term forecast for the cryptocurrency.

Price Movement Analysis

Initially, the price of Quant fell below the 21-day SMA and retested the moving average line and resistance at $106 before continuing to drop. The bearish momentum has now reached the 50-day moving average line, with the potential for continued selling pressure if the line is breached. If this happens, QNT is predicted to fall to a new low of $91, forced to trade within a range between the moving average lines if the 50-day SMA support holds. Currently, the price of QNT/USD stands at $96.88.

Quant Price Indicator Analysis

QNT/USD has dropped within the moving average lines as a result of recent declines, leading to predicted fluctuation between these lines. Breaking above these lines will indicate the development of a new trend, as the current trend is still in place. Key supply zones to watch are $140, $150, and $160, while key demand zones are at $90, $80, and $70.

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The Future of Quant

With Quant’s rejection at the $110 resistance level, the cryptocurrency is expected to continue fluctuating within the moving average lines for some time. If the price falls below these lines, further decline is anticipated. Since October 26, QNT has been fluctuating between $96 and $110, as reported in previous analysis.

Hot Take: What’s Next for Quant?

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The future of Quant (QNT) seems uncertain as it faces resistance at $110 and a potential decline to a new low of $91. With ongoing bearish momentum, the cryptocurrency may continue to fluctuate within moving average lines, leading to a sideways movement. Keep an eye on key support and supply zones to gauge potential long-term movements in Quant’s price.

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