Quant Is In An Area Where The Bears Threaten To Shorten

May 07, 2023 at 09:14 // Price
Coin Idol
Quant is currently in a sideways trend

The Quant (QNT) price has leveled off since its price drop on March 9. The crypto asset has been trading between $106 and $130 since the decline was halted.

Long-term analysis of the Quant price: in range

Today, the altcoin is trading between the two price levels at $111.83. Since March 9, the bears have tried to retest the existing support, but they were not successful. The price drifted sideways as sellers were unable to keep the price above the moving average lines. To exert further selling pressure, the bears are currently retesting the existing support. Both the high at $120 and the 21-day line SMA have held back the upside. A bounce above the current support will lead to a break of the moving average lines. The bullish momentum will either break or overcome the resistance at $130. On the other hand, the market would fall much further and reach a low of $101 if the bears manage to break the current support.

Quant price indicator analysis

Quant's Relative Strength Index is at 43 for the period 14. In the downtrend zone, the altcoin is still vulnerable to further declines. The decline is due to the price bars being below the moving average lines. The bullish momentum has weakened above the daily stochastic barrier of 40.

QNTUSD_(Daily Chart) – May 6.23.jpg

Technical indicators

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

Important demand zones: $120, $110, $100

What is the next move for Quant?

The upside has been restricted below the moving average lines, but Quant is currently in a sideways trend. Resistance was encountered at the $120 resistance level to the recent upward movement. The altcoin is currently in a tight range that will cause either a price increase or a price decrease.

QNTUSD_(4 –Hour Chart) - May 6.23.jpg

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.

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