Cryptocurrency analysts of Coinidol.com report, the price of Quant (QNT) has been trading within a range after the bearish plunge on June 10.
The initial attempt of buyers to break through the resistance at $120 led to a fluctuating movement of the cryptocurrency. Over the past month, QNT has been moving between $95 and $120. At the time of writing, the altcoin is trading at $102.43. On the upside, further upward movement of the altcoin is being held back by the moving average lines or resistance at $105. On the downside, the bulls have defended the current support at $95. On the downside, the current price candles indicate strong buying pressure at lower price levels.
QNT is in the downtrend zone at the level 47 of the Relative Strength Index of the period 14. The altcoin is in the downtrend zone and is capable of further downward movement. The altcoin is at risk of a decline as the price bars are below the moving average lines. QNT is in a bearish momentum below the 40 level of the bearish momentum.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
QNT/USD continues to trade in a range between $95 and $120. Price action has been further restricted below the moving average lines. The bears have the upper hand and the altcoin is confined to a narrow range.
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 own research before investing in funds.