Quant (QNT) price has returned to its negative trend zone after failing to resume an uptrend above the moving average lines.
Quant long term price forecast: in range
As an investor in Quant, you may have noticed that the altcoin recently recovered and broke above the moving average lines on August 26, reaching a high of $105. Unfortunately, it failed to break through the $112 resistance level, resulting in a decline. If the buyers had been successful, the sideways trend may have come to an end.
When the altcoin lost value, sellers became active at higher price levels. However, the $97 support level has remained intact since June, providing solid support. Despite falling below the moving average lines and reaching a low of $98, the altcoin has consolidated above the $98 support level, causing the declines to slow down. Currently, the altcoin is trading within the range at $99.72.
Quant price indicator analysis
Quant is currently at the Relative Strength Index (RSI) 44 level for the period 14. The altcoin is in a bearish trend as it continues to move sideways. The price bars are below the moving average lines, indicating a potential downward movement. On the daily chart, the Stochastic shows an upward correction above the 50 level, but this correction is rejected at the 21-day simple moving average line.
Technical Indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next step for Quant?
As a Quant investor, you should be aware that the altcoin is currently back in the bearish trend zone. It is trading below the moving average lines but above the lower price range. The appearance of doji candlesticks has slowed down the price movement and indicates further consolidation above the moving average lines.
According to cryptocurrency analytics specialists, on August 28, 2023, the cryptocurrency broke through the moving average lines and resumed its uptrend. The price indicator predicts that QNT will rise to a high of $109.
Hot Take:
If you’re considering investing in Quant, keep a close eye on the altcoin’s price movement within the bearish trend zone. The consolidation above the moving average lines and the potential uptrend indicated by the price indicator could present a buying opportunity. However, it’s important to conduct thorough research and consider other factors before making any investment decisions. Remember to stay informed and always diversify your portfolio to manage risk effectively.
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