Quant (QNT) Price Analysis: Bearish Outlook
The price of Quant (QNT) has been experiencing a recent decline and has reached its previous low once again. Letโs take a closer look at the long-term forecast and analysis for QNT:
Long-Term Quant Price Forecast
QNT/USD has been in a downtrend since January 23, 2024, with the altcoin failing to regain momentum above the moving average lines. Despite some recovery in the past week, QNT remains trapped between these moving average lines. The bullish momentum has stalled below the 50-day SMA, and the altcoin has fallen below the moving average lines after two rejections at the 50-day SMA. Currently, QNT is trading at $104.
In terms of support levels, QNT has not breached the $100 level in the last month. If it loses this support level, it may fall further to $95.
Analysis of Quant Price Indicators
The price bars for QNT have returned below the moving average lines after being trapped between them. This puts the altcoin at risk of further decline below its current support level. However, long candlestick tails at this support level indicate significant buying pressure.
Technical Indicators
- Key supply zones: $140, $150, $160
- Key demand zones: $90, $80, $70
Whatโs Next for Quant?
Looking at the 4-hour chart, QNT is currently consolidating above its support level of $100. The price is oscillating both below and above the 21-day SMA, and the presence of doji candlesticks has caused the price action to remain relatively stable. The altcoin is finding support from long candlestick tails, which are helping it bounce back above the current support level.
Hot Take: QNT Price Analysis
The recent decline in the price of Quant (QNT) has raised concerns among investors. With a bearish outlook and ongoing struggles to regain momentum, itโs crucial for you to keep an eye on key support and resistance levels. The altcoinโs ability to maintain its current support level or break through it will determine its future movement.
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