The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price analysis by Coinidol.com.
This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average lines, just like in the previous scenario. If the bears manage to break the 50-day simple moving average, the market will fall to $108.
QNT was rejected at $150 and is currently stuck between the moving average lines. In the meantime, the moving average lines are trending higher despite the decline. Prices have a tendency to move between the moving average lines. The 4-hour chart shows a recent decline with the price bars below the moving average lines.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
After rejecting the recent high, Quant is now in a downtrend. The current downtrend is slowing down as it is moving between the moving average lines. If the downtrend is stopped above the 50-day SMA, the uptrend will begin. However, if the 50-day SMA support is broken, QNT will fall much further.
On December 26, the altcoin reached a high of $153 before falling back again as Coinidol.com reported before.
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 the research before investing in funds.