Quant Declines As It Recovers Its Previous Low At $105

Apr 16, 2023 at 08:48 // Price
Coin Idol
Quant has been declining and may continue to do so

Quant (QNT) has been declining and may continue to do so.

Quant long-term price forecast: declining

Since March 10, buyers have attempted to hold the price above the moving average lines but have been thwarted by the $130 barrier. After repeated rejections, the cryptocurrency's price has dropped below the moving average lines. QNT is currently trading at $119 but could fall further. The decline could go back to the previous low at $105. The market will continue to fall if the current support is broken. On February 13, QNT made an upward correction and a candlestick tested the 50% Fibonacci retracement level. The correction implies that QNT will fall to the 2.0 Fibonacci Extension level or $95.27. In the meantime, QNT is in a downtrend towards the current support.

Quant price indicator analysis

The cryptocurrency is in a bearish trend zone and could fall further. Another reason is that the price bars are below the moving average lines. Quant is in a bearish momentum below level 50 of the daily stochastic. During period 14, QNT is at a Relative Strength Index level of 42.

QNTUSD(Daily Chart) - April 15.23.jpg

Technical indicators

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

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

What is the next move for Quant?

Quant is sliding on the 4-hour chart as a result of the barrier above $128. The altcoin is currently losing support and dropping to its previous level. The cryptocurrency asset will resume its uptrend if the existing support holds.

QNTUSD(4 Hour Chart) - April 15.23.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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