The price action of Quant crypto showed that selling pressure was noted on the charts and was in a downtrend, forming negative candles over the past few weeks. Moreover, due to declining investor interest, trading volume was below average.
The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the Quant trades below the significant moving average of 20 days and tries to attain the 50-day EMA to hold the gains.
At the time of writing, the Quant price is trading at $125.69 with an intraday drop of 7.37%, showing a bounce from the lower trendline near the support mark of $117.09. Moreover, the intraday trading volume is $35.34 Million and the market cap is $1.501 Million.
Crypto has had a poor performance over the years. Year-to-date it gave negative returns of 9.74% and grew by 21.18% in 6 months. In the last 1 month, it gave a positive return of 21.18% and 14.05% in the last seven days. Indicating a long bearish trend continuing till now.
Technical Analysis of Quant Crypto Price in 1-D Time Frame
At the time of publishing, Quant crypto (USD: QNT) is trading above the 50 and 200-day daily moving averages (DMAs), which supports the price.
The current value of RSI is 50.00 points. The 14 SMA is close to the median line at 64.70 points which indicates that the Quant crypto is bearish.
The MACD line at 7.26 and the signal line at 7.63 are above the zero line. A bearish crossover was observed in the MACD indicator which signals more bearishness for the QNT crypto price.
4 Hour time frame Technical Evaluation
On the 4-hour chart, the Quant price is stuck in a narrow range and does not signal any rise because of low volume levels. Moreover, a key indicator is still in the neutral range and does not signal bullishness.
The RSI curve is near 30, in the oversold range, and showed a bearishness move on the short-term charts.
The MACD indicator still showed green bars on the histogram with a bullish crossover but did not signal any substantial upswing.
Summary
Quant (USD: QNT) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the QNT crypto price. Quant price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
Support Levels: $121.66.
Resistance Levels: $153.85.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
Source: https://www.thecoinrepublic.com/2024/01/03/quant-crypto-price-prediction-buy-sell-or-hold-qnt-crypto/