The price of Quant (QNT) is bearish as buyers are unable to keep the price above the $120 high.
The altcoin's upward momentum would have resumed if the positive momentum is maintained above the $120 high. The cryptocurrency has fallen below the moving average lines after the rejection. According to the price indication, QNT will fall but then rise from its recent low. After the dip on April 21, QNT has completed an upward correction and a candlestick has tested the 78.6% Fibonacci retracement level. Quant is retracing but reversing at the 1.272 Fibonacci extension level or $92.46. QNT is currently trading at $103.83, which is its all-time low.
QNT is at level 40 on the Relative Strength Index for period 14, and the altcoin has a greater potential for a decline. Since the price bars are below the moving average lines, a further decline is likely. Quant has fallen below the 20 threshold of the daily stochastic. The market has reached the oversold level.
Key supply zones: $140, $150, $160
Important demand zones: $120, $110, $100
Selling pressure on the crypto asset has increased as the price deviates below the moving average lines. The cryptocurrency price moved away from the support, but later found it again. The uptrend could continue if QNT stays above the existing support. If not, the altcoin will fall, but then rise above $92.
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.