Quant Trades Sideways While The $150 Barrier Remains Stable

Dec 31, 2023 at 11:56 // Price
Coin Idol

Quant (QNT) is in an upward correction and is trending sideways. Cryptocurrency price analysis by Coinidol.com.

Quant long term price prediction: in the range 

The cryptocurrency is on its way back to its high price of $365. The uptrend is currently halted around the high of $150. On December 26, the altcoin reached a high of $153 before falling back again. 

On the plus side, the market will rise to a high of $184 if the current resistance is overcome. Looking back, the $150 resistance level has been unbroken since January. 

On the downside, the altcoin will bounce between the 21-day SMA and resistance at $150, where the bullish scenario becomes invalid.

Quant price indicator analysis

Quant will continue to rise as long as the price bars remain above the moving average lines. The price bars in the lower time frame are between the moving average lines, indicating a possible range-bound move in the cryptocurrency. The retracement has now ended above the $130 support level.

Technical indicators

Key supply zones: $140, $150,$160

Key demand zones: $90, $80, $70 

QNTUSD_ ( Daily Chart) – Dec.30.jpg

What is the next move for Quant?

Quant will continue to trade sideways below the $150 resistance level. Buyers have failed to re-establish bullish momentum above the current barrier for the second time. The price of the altcoin will move between $130 and $150. On a positive note, the altcoin will continue to rise as long as the price bars remain above the moving average lines.

QNTUSD_ ( 4-hour Chart) – Dec.30.png

A week ago, Coinidol.com reported that according to the price analysis on the positive side, a break of the $120 resistance level will see the altcoin rise to a high of $150. On the other hand, Quant will widen its trading range if it fails to break the resistance at $120. 

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 the research before investing in funds.

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