The price of Quant (QNT) has recently pulled back but found support above the moving average lines. This indicates a continuation of the previous uptrend that was broken on October 26 at a high of $110.
Quant long term price forecast: bullish
The cryptocurrency is reversing its previous downtrend and has been rising above the moving average lines. If QNT finds support above these lines, it is expected to rise further. A break of the resistance at $110 could lead to a high of $126. However, if QNT remains in its range between $96 and $110, the bullish scenario would be negated. Currently, QNT/USD is trading at $100.26.
Quant price indicator analysis
QNT’s uptrend is continuing as the price retraces above the moving average lines. This indicates a potential further rise in the cryptocurrency. Despite the recent decline, the moving average lines still show a positive crossover, with the 21-day simple moving average holding above the 50-day simple moving average.
Technical indicators
Key supply zones for QNT are at $140, $150, and $160, while key demand zones are at $90, $80, and $70.
What is the next move for Quant?
QNT/USD is currently rallying and has found support above the moving average lines. Since October 26, the price has been fluctuating between $96 and $110, suggesting a potential upward move. If buyers can hold the support level at $96, the uptrend is likely to continue.
According to a previous report on October 28, QNT’s positive momentum reached a high of $108 before being stopped at the $110 barrier zone. The recent high on October 26 marked the end of the uptrend.
Hot Take: Quant’s Uptrend Continues with Strong Support
The price of Quant (QNT) has retraced but found support above the moving average lines, indicating a continuation of the previous uptrend. With buyers rallying and holding the support level, QNT is likely to continue its upward move. However, if QNT remains within its range between $96 and $110, the bullish scenario may be invalidated. Traders should closely monitor the resistance at $110 for a potential breakout, which could lead to a high of $126. Overall, QNT’s long-term price forecast remains bullish.
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