Coinidol.com reports, the upward or downward movement of Quant (QNT) price is uncertain as the altcoin resumes a horizontal trend.
The price of Quant (QNT) has been steadily rising above the $100 level since August 4. The price movement was slowed down by small indecisive candles known as doji. It is consolidating above the $100 level. The price range has currently narrowed to the $100 and $110 levels.
On the positive side, the altcoin will continue to rise if it recovers above the current support. The positive momentum will strengthen above the moving average lines and allow the price to reach previous highs of $110 and $120. Meanwhile, the cryptocurrency price has remained stable above the current support at $100.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
In the 14th period, the price of the cryptocurrency has remained stable at the 43 level of the Relative Strength Index. The simple moving averages of the 21-day and 50-day lines are horizontally flat, indicating a movement within a range. The price of the cryptocurrency is falling as it is below the moving average lines. The altcoin is in a downtrend below the daily stochastic threshold of 25.
The cryptocurrency asset will continue to range as long as it consolidates above the $100 level. The altcoin has not turned into a trend yet, as doji candlesticks are so common. Most likely, the horizontal trend will persist.
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.