The Struggle of Quant (QNT) Price Analysis
The price of Quant (QNT) is currently facing difficulties in recovering from its downtrend. Letโs analyze the QNT price movement and predict its future direction.
Long-term Quant Price Prediction: Bullish
The cryptocurrency reached a high of $130 on March 1, 2024. However, the last high acted as a limit to the uptrend, as the bulls were rejected after reaching a high of $147.47 on March 13. The wicks of the candles at the high indicate significant selling pressure at these price levels.
If the bulls are successful, QNT will retest its previous high of $153.83. Currently, QNT has fallen and returned to its original range, which is above the moving average lines and resistance at $130. On the other hand, if the bears break below the moving average lines, QNT will fall and return to its previous low of $101. At the time of writing, it is trading at $123.52.
Analysis of the Quant Price Indicators
After the dramatic drop, QNT has found support above the moving average lines. The bulls have managed to stop the slide above the 21-day SMA (Simple Moving Average), which now acts as a support line for the cryptocurrency. On the 4-hour chart, however, the price bars are falling below the moving average lines. Nonetheless, QNT has found support above the $119 level.
Technical Indicators
- Important supply zones: $140, $150, $160
- Important demand zones: $90, $80, $70
Whatโs Next for Quant?
Currently, QNT is trading in a range after its recent decline. The altcoinโs price is fluctuating between $118 and $144. In order for QNT to rally, it needs to stay above the moving average lines of the daily chart. The bulls and bears are currently vying for control above the 21-day SMA.
On March 11, it was reported that the bulls bought the dips as the altcoin climbed back above the moving average lines, with QNT trading at $121.23.
Hot Take: QNT Price Struggles to Recover
The price of Quant (QNT) is facing challenges in its recovery after a previous downtrend. While there is potential for a bullish scenario, there are also bearish possibilities if certain levels are breached. Letโs keep an eye on how QNT performs in the coming days and see if it can regain its momentum.
Cabel Dioli emerges as a luminary seamlessly blending the roles of crypto analyst, dedicated researcher, and editorial artisan. Within the dynamic expanse of digital currencies, Cabel’s insights resound like finely tuned notes, reaching minds with diverse inquisitiveness. His mastery in unraveling intricate threads of crypto intricacies harmonizes effortlessly with his editorial finesse, transforming complexity into a captivating symphony of comprehension.