The price of Quant (QNT) is bearish, but it has deviated below the moving average lines.
Quant long term price forecast: bearish
Price adjustments for the cryptocurrency three times above the moving averages lines were ineffective. At the time of writing, the altcoin is trading for $124. The upward correction was stopped by the resistance of $130 and the 21-day line SMA. The price of QNT will drop down to its previous low of $106 if it falls below the moving average lines. On the other hand, the altcoin will resume its uptrend if the price breaks above the moving average lines or the resistance at $130. The 21-day line SMA is currently being retested by the cryptocurrency price to overcome it.
Quant price indicator analysis
QNT is at level 48 of the Relative Strength Index for period 14. The altcoin could fall now as it is in a bearish trend zone. The altcoin could fall further as price bars accumulate below the moving average lines. The daily stochastic value of 25 is the point where QNT starts to move up again. Bullish momentum has slowed due to Doji candlesticks.
Technical indicators
Key supply zones: $140, $150, $160
Key demand zones: $120, $110, $100
What is the next move for Quant?
QNT is moving between the moving average lines on the 4-hour chart, but below the $128.00 resistance level. The altcoin will move up if the price climbs above the 21-day line SMA. QNT will reach a new high of $130 if it rises. However, at some point the market will become overbought.
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. Readers should do their own research before investing in funds.
Source: https://coinidol.com/quant-struggles-below-126/