Quant Price Analysis: bears failed to dump the QNT price below thelevel of $100; what next?

• The Quant token price has been moving downwards since the all-time high level in the descending parallel channel (white).
• The QNT token price makes higher lows near the parallel channel’s upper border in the daily price chart. 
• The QNT/BTC pair is trading at 0.003006 satoshis, incline by 6.70%, as well as the QNT/ETH pair price is bullish by 4.57%. 

The QNT token has been continuing downward momentum since the All-time high peak of $430. Since then, the price action of the QNT token has been underperforming in the descending parallel channel in terms of the daily price chart. The QNT price is trading near the 6-months low. Meanwhile, the QNT crypto has lost around 80% of its value from the ATH mark, resulting in the currency’s 6-month low of $84. 

Quant token price has been forming a high-low for the past several days, drawing an upward trend line. The QNT token is trading at $114.2, down a little over 1.7% after a solid 11% recovery over the past 24 hours. However, QNT crypto has lost around 41% of the trading volume in the last trading session. For the past two days, the volume saw a highly volatile productivity in the last 10 days. Meanwhile, the volume to market capitalization ratio is 0.05509. The coin has gained around 11% of its value from this month’s low.

The QNT token price saw a bounce back from the lower verge of the Bollinger Bands indicator and investors approaching the middle line (20-day moving average) of the BB indicator. However, the QNT/BTC pair price is trading at  0.003006 satoshis, inclined by 6.70%, as well as the QNT/ETH pair price is bullish by 4.57%. 

Bulls are gathering QNT price in the green zone of Super Trend

QNT investors attempted to break the 20-day moving average, but they failed in the action. Now again, bulls are approaching the 20-MA (white) as well as the 50-MA (blue). Moreover, the 100 and 200 MAs are far above the current price.

The daily RSI has breached the sloping trendline (yellow), and now it is at the 45-mark. Bulls should wait for the confirmation above the half-level (50-Mark). Meanwhile, the average directional index is showing 16-point, indicating the weak bullish momentum. 

ALSO READ: Quant Price Analysis: Quant is testing the resistance zone of the bearish channel

Conclusion 

Bulls may be more aggressive above the descending parallel channel. Once bulls sustain the QNT price above $130, we could see short-covering till $160-resistance. 

Support level – $100 and $85

Resistance level – $160 and $200

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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