Quant Initiates Further Decline As It Meets With Rejection At $104

May 28, 2023 at 09:10 // Price
Coin Idol
Quant initiates further decline

The price of Quant (QNT) is bearish, but is in an upward correction.

Quant long term price forecast: bearish

 Upside is limited below the moving average lines. QNT will continue to fall as long as the price bars are below the moving average lines. Bullish momentum is rising above the moving average lines, but falling between them in the lower time frame. The altcoin will be driven into a range-bound move before selling pressure resumes. QNT is currently trading at $100.73. The cryptocurrency will continue to lose value and reach a low of $75, as suggested by the current price indicator. In other words, QNT will fall to the Fibonacci extension at 1.618.

Quant price indicator analysis

QNT is at level 37 on the Relative Strength Index for the period 14. The alternative currency is in a bearish trend zone and will continue to fall. The moving average lines are below the price bars, indicating a further decline. The altcoin is in an uptrend when the daily stochastic threshold of 40 is exceeded. The pace of the development has slowed down.

QNTUSD_(Daily Chart) – May 27.23.jpg

Technical Indicators

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

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

What is the next step for Quant?

Quant continues to move below the moving average in a bearish direction. As long as the price bars are below the moving average lines, the trend will remain bearish. The decline will be minimal as long as the Doji candlesticks control the price movement.

QNTUSD_(4 –Hour Chart) - May 27.23.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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