The most recent Quant price analysis confirms an increasing trend for cryptocurrency today as the coin value has increased tremendously. Some corrections were recorded in the price level up till 21 September 2022, but the price of QNT/USD has been rising for the last three days as a continuous bullish wave seemingly took over the market. The price followed a bullish movement in the past 24 hours as well, and now it is standing at a $119.3 high. Chances of further bullish growth seem quite near as the bearish resistance is very low. However, the next resistance is present at $121.7, which was set by the bears on 10 April 2022.
QNT/USD 1-day price chart: QNT gains 15 percent as it nears $121 resistance
The one-day Quant price analysis confirms a strong bullish trend for today as the coin value has undergone a considerable improvement. The effort from the buyers’ side remained commendable and persistent throughout the last three days. And today, the circumstances were again in support of the bulls as the price covered an upward movement up to $119.7 higher high position. In this way, the price crossed above its moving average (MA) score yesterday, which is currently $107. The coin has gained 15 percent value during the last 24 hours, and the trading volume has increased by a big margin of 151 percent today.
The volatility in the one-day price chart is increasing, which is quite encouraging news regarding the upcoming price trends; however, the latest increase in price has changed the trend. The upper Bollinger band now rests at $116.7 high, and the price has gone above this level, and the lower Bollinger band is found at $90.4 low, which represents the strongest support for the cryptocurrency. The Relative Strength Index (RSI) score has reached index 63 as it continues to move higher in the neutral zone nearing the oversold limit as the buying activity continues in the market.
Quant price analysis: Recent developments and further technical indications
The hourly Quant price analysis favors the cryptocurrency buyers as a strong rise in QNT/USD value was detected in the past few hours. The bulls have been dedicated to rewin their leading position over the market, and so far, their progress has been fascinating. The price experienced a rise to $119.9 in the last four hours because of the upturn as the bulls have been leading the price action for the past 36 hours in a row. At the same time, the price crossed the Bollinger band upper value, i.e., $119.4 on the 4-hour chart, due to the upwards trend.
Although a strong bullish trend was controlling the market, there were instances where the bears got control, as the last strong rejection was observed yesterday when the bear refused price movement above $107. But now, it seems that the bullish momentum is unbeatable, and the situation has turned in favor of the buyers. The Bollinger bands indicator shows the following values as it expands in the hourly price chart; the upper value is $119.4, whereas the lower value is $95.9. The RSI score has enhanced up to index 76 as the indicator marks QNT as overbought because of the uptrend.
Quant price analysis conclusion
The bulls have been reigning high, as confirmed from the above one-day and four-hour Quant price analysis. An overpowering bullish wave dominated the market in the past 24 hours as well, and the price has increased up to $119.9. The bullish current is expected to continue in the upcoming hours. However, a small correction may also happen as the bulls might be exhausted after such a long lead.
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Source: https://www.cryptopolitan.com/quant-price-analysis-2022-09-24/