Quant (QNT) Price Analysis: Bearish Trend Continues
Quantโs price has recently faced rejection at upper resistance levels and dropped below moving average lines, indicating a bearish trend for the cryptocurrency. Here is an analysis of the current market situation for Quant and what to expect in the near future.
Long-term Quant Price Forecast: Bearish Outlook
- The persistent rejection at the $150 overhead resistance since December 26, 2023, has hindered Quantโs price recovery.
- As of April 14, 2024, the cryptocurrencyโs selling pressure remains above the $91.50 support level, indicating a bearish trend.
- The current support is holding between $91 and $110, with the 21-day SMA acting as resistance to any upside reversal attempts.
Analysis of Quant Price Indicators
The price bars for Quant are currently below the downward sloping moving average lines, suggesting a bearish trend. Additionally, a bearish crossover is observed as the 21-day SMA crosses below the 50-day SMA, indicating further downward movement in the price.
Technical Indicators
- Key supply zones: $140, $150, $160
- Key demand zones: $90, $80, $70
What to Expect Next?
Quantโs price has dropped to a range between $98 and $116 after facing resistance at $116. The cryptocurrency is now hovering above the critical support level of $100. The bears have defended this support level since November 22, 2023, indicating a potential consolidation phase or further downside movement for Quant.
Hot Take: Stay Cautious in the Bearish Market
As Quantโs price continues to face rejection at key resistance levels and remains below moving average lines, it is advisable to proceed with caution in the current market conditions. Investors should closely monitor price movements and be prepared for further downward movement in the cryptocurrencyโs price.
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