Quant price analysis: QNT corrects below $127 after rallying high

TL;DR Breakdown

• The Quant price analysis is bearish today.
• Resistance for QNT/USD is present at $132.
• The support is present at $121.5.

The Quant price analysis is bearish for today as the QNT/USD price is correcting after rallying high yesterday. The coin rejected further upside at $127.4 after gaining significant value during the past few days as the bullish momentum was overwhelming, but today the trend has changed, and bears are in the lead. As a result, the QNT price has corrected down to $126.1 at the time of writing. Support is present at $121.5, from where the price may start to recover again.

QNT/USD 1-day price chart: Price return to $126.1 after the bearish comeback

The 1-day Quant price analysis shows a bearish momentum, and a further price decrease is expected in the coming hours as bears continue putting pressure. The price has stepped down to $126.1 while still reporting an increase in value by 4.97 percent due to yesterday’s spike in price, and the overall picture is also brighter as the coin reports an increase in value by 17.15 percent over the course of the last seven days. The trading volume has increased by 46.9 percent, which has resulted in market dominance of 0.08 percent.

The volatility is mild as the Bollinger bands don’t show any notable change, with the upper band at the $126 mark and the lower band is at the $107 mark. The average of the indicator is forming at $116.5. The moving average (MA) is at the $118 mark below the price level. The relative strength index (RSI) is trading on a downwards curve at index 57, hinting at the selling activity in the market.

Quant price analysis: Recent developments and further technical indications

The 4-hour Quant price analysis shows the coin price function is facing the resistance present at $127 currently as bears regained the lead. The price breakout was upwards at the start of the trading session, but later bears took over, and the red candlesticks are indicating bearish progress. The moving average (MA) is trading at $125.2 above the SMA 50 and below the current price level.

The volatility is comparatively higher than the last few days on the 4-hour chart. The upper end of Bollinger bands is at the $129 mark representing resistance, and the lower band is at the $114 mark. The average of Bollinger bands is being formed at the $121 mark below the price level. The relative strength index (RSI) is trading in the upper half of the neutral zone as the indicator trades at index 62, but the curve is downwards.

Quant price analysis conclusion

The Quant price analysis is bearish for today. The QNT/USD is correcting today after yesterday’s bulls rally. We expect QNT to continue correcting for the coming hours as the support is still further low at $121. On the other hand, the QNT/USD crypto pair may reattempt the resistance present at $127.4 later today if bullish support returns.

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