Cryptocurrency analysts of Coinidol.com report, on September 26, the price of Quant (QNT) hit a new low of $84 as bulls bought the dips.
Quant long-term price forecast: bearish
The upward correction of the cryptocurrency price was stopped at the 21-day line SMA. The 21-day line SMA has prevented further price gains since September 11. QNT is currently trading at $90.48. The market is overbought at the current price level. In other words, the cryptocurrency is unlikely to move higher. The limited price range between $84 and $90. Quant is at risk of falling further if it loses support at $84.
Quant price indicator analysis
Quant fell into the oversold zone, but now it has recovered.
It is at the 42 level of the Relative Strength Index for the period 14. It is expected that buyers will increase in the oversold area and prices will rise. The price of the cryptocurrency will decrease as long as the price bars are below the moving average lines. The price of the altcoin is expected to fall as it is below the daily stochastic level of 80. The cryptocurrency is overbought as it has corrected upwards.
Technical indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next step for Quant?
The cryptocurrency value has declined and could decline much more due to its upward correction. The altcoin is rejected at its recent high, which could cause a decline. However, if it breaks out of the recent high, it will rise. This could also mean the beginning of another rise.
As we reported on September 23, QNT is now trading between $90 and $94 in the current price range. The bears have broken through the current price range and reached the $89 price level.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/quant-recovers-90/