TL;DR Breakdown
- The Quant price analysis is bullish today.
- Resistance for QNT/USD is present at $113.
- The support for cryptocurrency is present at $101.5.
The recent Quant price analysis confirms a bullish trend for the cryptocurrency, as the buying momentum has intensified. A green candlestick has appeared on the price chart, indicating a rise in the coin value after a bearish period of four consecutive days. If the bullish rally continues in the future, further improvement in QNT/USD value can be expected. The recent upturn has taken the price to $108.9 above the first resistance of $107.7, as it has recovered. The price also oscillated high towards $112.5 but has corrected again.
QNT/USD 1-day price chart: Price recovers to $108.9 after bullish revival
The one-day Quant price analysis shows that the bullish momentum has been recovered in the past 24-hours. Although the cryptocurrency faced loss in the past few days, the bulls are now on their way toward achieving their next target. The short-term trending line is still traveling descendingly, and the price is now settling at the $108.9 mark. After the latest upturn, as the coin gained around 3.5 percent value today, the price crossed its moving average (MA) value which is at $110 but stepped below MA again just recently.
The SMA 50 curve is still traveling at a greater height than the SMA 20 curve, as the bears were overpowering the market trends in the earlier weeks. If we move towards the Bollinger bands indicator, then it shows high volatility for the crypto pair, the upper value is $129 representing the strongest resistance, and the lower value is $101 representing the strongest support for QNT. The Relative Strength Index (RSI) score has improved to index 37 after the bullish return, as previously, RSI was hovering above the borderline of the underbought zone.
Quant price analysis: Recent developments and further technical indications
The hourly price chart for Quant price analysis is going in the bearish direction at the moment as the price underwent a sufficient decline in the past few hours. However, during the entire day, bullish price action has been seen. The market trend has changed as selling pressure appeared, and currently, the bears are moving ahead. Due to the latest bearish current, the price moved down to a $108.9 low in the last four hours. Further decline is possible if the bears remain consistent. The moving average value is present at $108 below the current price level.
The volatility is decreasing, which means that the price might find a bullish recovery in the coming hours, a relatively positive hint. The upper band of the Bollinger bands indicator is now touching the $111 position, whereas its lower band is at the $104 position. The RSI score is in a quiet neutral zone and has dropped up to index 48 due to the latest downturn due to the selling pressure.
Quant price analysis conclusion
The one-day and four-hour Quant price analysis shows quite encouraging results for the buyers today, as the price followed an upward trend. The coin value has been raised to $108.9 due to the latest bullish wave. On the other side, the four-hour price chart displays a red candlestick as the market followed a bearish trend in the past four hours. However, the larger trend is bullish for today, and the cryptocurrency price will cap at a comparatively higher point, thus supporting the buyers.
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Source: https://www.cryptopolitan.com/quant-price-analysis-2022-04-24/