Quant (QNT) Price Analysis: Bears Break Support, Bulls Struggle
The price of Quant (QNT) has dropped below the moving average lines but is still above the $106 support level. The bears managed to break the support on January 23, 2024, causing the cryptocurrency to fall to a low of $100. However, the bulls quickly pushed the price back up above the support level, and QNT is now valued at $108. Despite this upward correction, the altcoin faces resistance at the $111 high and has fallen again.
Long-term Forecast: Bearish Outlook for Quant Price
If the bears continue to maintain their control and push the price down, QNT could reach a predicted low of $79. The price bars for QNT are still below the moving average lines, indicating a bearish trend. The moving average lines are trending downwards, with the 21-day SMA acting as a resistance line for the price bars. The price action is characterized by doji candlesticks.
Analysing Quant Price Indicators
Key supply zones for QNT are at $140, $150, and $160, while key demand zones are at $90, $80, and $70.
What’s Next for Quant?
Quant is currently trading above the support level of $100 on the 4-hour chart. However, it is facing selling pressure after being rejected at $111. If the bears manage to break the current support level, selling pressure will increase once again. Sellers have attempted to retest the $106 support three times since January 8, 2024.
Hot Take: Quant Faces Resistance and Potential Further Decline
The price of Quant (QNT) has fallen below the moving average lines, indicating a bearish trend. Despite a temporary upward correction, the altcoin faces resistance at $111 and may continue to decline. If the bears break the current support level of $100, selling pressure will increase. Traders should closely monitor these price levels and indicators to make informed decisions about their QNT investments.
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