Quant (QNT) has experienced a further decline in price, inching closer to the expected low of $76.96. The long-term prediction for Quant’s price remains bearish, as bearish momentum broke through the previous low of $85 on June 7, reaching $81 before retracing. The cryptocurrency is now correcting upwards to retest the $85 barrier. If the bulls manage to break this barrier, the recent slide may reverse. According to Coinidol.com’s price analysis, QNT is expected to trade within a range between the $85 support level and below the moving average lines. However, if it faces rejection at $85, selling pressure could return, causing the altcoin to fall but potentially reverse at the 1.272 Fibonacci extension or at $76.96.
The analysis of the Quant price indicator shows that the price bars have fallen even further below the moving average lines following a recent dip. Since April 14, the moving average lines have indicated a bearish crossover, as the 21-day Simple Moving Average crossed below the 50-day Simple Moving Average, signaling a bearish trend. In terms of technical indicators, important supply zones for Quant include $140, $150, and $160, while important demand zones stand at $90, $80, and $70.
Looking at Quant’s next move, the altcoin has fallen below the moving average lines on the 4-hour chart. On June 7, it hit a low of $81, with bulls stepping in to buy the dips. The price is currently fluctuating between support at $81 and resistance at $85 or the 21-day moving average line. As the price encounters rejection at the moving averages, it continues to fall. It is important to note that this analysis and forecast are the author’s personal opinions and should not be considered as a recommendation to buy or sell cryptocurrency. Readers are advised to conduct their own research before making any investment decisions.
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