Quant (QNT) Price Analysis: Bullish Long-Term Forecast
The price of Quant (QNT) is on the rise after crossing the moving average lines, according to cryptocurrency analysts. The recent high of $108 was reached before encountering resistance at the $110 barrier zone. However, in the last 48 hours, the cryptocurrency has been trading below this high, indicating a potential uptrend.
Quant Price Forecast
A retracement candlestick tested the 78.6% Fibonacci retracement line during the October 27 upswing. This suggests that QNT will rise further but may reverse at the 1.272 Fibonacci extension level of $117.03. If buyers are unable to maintain positive momentum above $110, however, the altcoin may fall and settle in a range between $94 and $110. A downtrend would continue if the bears manage to break below either the moving average lines or the $94 support level.
Quant Price Indicator Analysis
QNT price bars have remained below the moving average lines but recently rose above them on October 26 for the first time since August 2. This bullish crossing is driving the upward movement of the altcoin and allows traders to place bullish orders.
Technical Indicators
Key supply zones for QNT include $140, $150, and $160, while key demand zones are at $90, $80, and $70.
What’s Next for Quant?
The bulls have successfully broken through the moving average lines, indicating an uptrend for QNT/USD. However, there is difficulty breaking above the $110 level and maintaining positive momentum in the range of $110 to $111. The altcoin has faced selling pressure three times after retesting the recent high.
According to cryptocurrency analytics specialists, QNT is currently trading above the 21-day simple moving average but below the 50-day simple average. The altcoin recently reached a high of $89.
Hot Take: Quant (QNT) Price Analysis
Quant (QNT) is experiencing a bullish trend as it crosses the moving average lines, suggesting a potential uptrend. However, the altcoin faces resistance at the $110 level and struggles to maintain positive momentum in the $110-$111 range. It is important to monitor whether buyers can sustain their momentum and push the price higher. Additionally, support levels at $94 and key supply zones at $140, $150, and $160 should be considered for future price movements.
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