Quant (QNT) Price Analysis: Rejection at Resistance Level
The price of Quant (QNT) has experienced a second rejection at the $150 resistance level. If this resistance level is broken, QNT could reach a high of $230. Currently, the coin is valued at $120, and a decline below the moving average lines may occur. If the bears break the 50-day simple moving average, the market will fall to $108.
Analysis of Quant Price Indicator
QNT has been rejected at $150 and is currently trading between the moving average lines. Despite the decline, the moving average lines are trending higher. The recent decline can be observed on the 4-hour chart with price bars below the moving average lines.
Technical Indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What’s Next for Quant?
After being rejected at the recent high, Quant is now in a downtrend. However, if the downtrend is stopped above the 50-day SMA (simple moving average), an uptrend may begin. On the other hand, if the 50-day SMA support is broken, QNT will experience further decline.
On December 26, the altcoin reached a high of $153 before falling back again.
Hot Take: Quant (QNT) Faces Resistance at Key Level
The price of Quant (QNT) has faced rejection twice at the $150 resistance level. Although there is potential for an upward movement if this resistance is broken, QNT is currently in a downtrend and may fall further if support levels are broken. Traders should closely monitor the movement of QNT and consider the key supply and demand zones for potential trading opportunities.
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