Quant price analysis is somewhat bullish today. However, there seems to be a lot of uncertainty in the cryptocurrency market if we look at the larger picture. This might impact Quant in the next few hours.
As the crypto heat map shows, Bitcoin has increased by 0.86 percent. However, Ethereum has outperformed Bitcoin as it increased by 2.52 percent. In comparison, other altcoins such as Ripple and Cardano are marking a decrease o 6.62 percent and 0.73 percent, respectively.
The 1-day Quant price analysis reveals that the market for Quant has remained bullish for the last 5 days. The price increased from $98.05 to a high of $124 before retracing back to the current price of $117.
A bullish momentum was clearly built up, as suggested by the MACD indicator, which also shows the histograms in green. The RSI at 62 suggests that the market might slowly be becoming overbought. So, the bears might be getting ready to catch up at any moment.
Quant 24-hour price movement
The last 24 hours have been quite interesting for Quant price analysis. The price closed at $118 exactly 24 hours ago and is currently trading at the same mark. However, it reached a high of $122 and a low of $112. So, there has been significant volatility in its price.
However, the 1-hour Quant price analysis is somewhat balanced at RSI at 53, and significant improvement can be observed in the MACD indicator. The bulls have not entirely given up yet, and a crossover seems to be impending.
Quant’s market cap has gone down by 0.52 percent in the last 24 hours. At the same time, its trading volume went up by 84 percent.
The next 24 hours are expected to be predominantly bearish because the bulls will eventually get exhausted and give up. After all, the overall sentiment of the market is still very negative.
4-hour Quant price analysis: MACD lines just crossed over
The MACD lines on the 4-hour graph just crossed over. This might mark the start of a bearish dip as the bulls seem to have been exhausted. At the same time, we can see the histograms on the MACD losing their strength rapidly.
Quant was trading around a mean of $104 for most of September. So, after this short bullish rally, Quant might eventually return to the same level. But how soon could that be? For now, $112 is a major support level for Quant. If that is broken, then the next support is set upwards of $100.
Quant price analysis: Conclusion
Quant price analysis has been slightly bullish today. However, now it looks like the bullish momentum is over, and Quant is gearing for the downside. The MACD indicator on the 4-hour graph is already showing a crossover in the lines, with histograms losing their strength. So, Quant may retest the support level of around $122 in the next 24 hours.
While the Quant market determines its course, consider reading about our best long-term crypto investments.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/quant-price-analysis-2022-09-26/