Quant Loses Important Support, Threatens To Fall To $85

May 15, 2024 at 10:53 // Price
Coin Idol

The price of Quant (QNT) is in a sideways trend and is falling below the moving average lines.

Long-term forecast for the Quant price: ranging

The bulls have already stopped the decline above the $91.50 support level while the price continues its sideways trend. In previous price action, the bears broke through the critical support at $100, which is now a resistance level or the 21-day SMA. QNT is currently in a downtrend and reached a low of $94.

If the bears breach the $91.50 support level, the market would fall back to its previous low of $85. However, if the bulls can hold the $91.50 level, the sideways trend will continue. 

Analysis of the quant price indicator

Quant is bearish as the price bars are rejected at the 21-day SMA. The moving average lines are trending south and reaching the bottom of the chart. On May 13, a long candlestick tail indicates strong buying pressure at lower prices.

Technical indicators

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

Important demand zones: $90, $80, $70

QNTUSD_ ( Daily Chart) –May 14.jpg

What is the next move for Quant?

Quant is likely to come under further selling pressure if the current support level of $91.50 is broken. The downward momentum has continued and retested the existing support level of $91.50. If the downtrend continues further south, the cryptocurrency will return to its previous lows at the bottom of the chart.

QNTUSD_ ( 4-hour Chart) – May 14.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.com. Readers should do their research before investing in funds.

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