Quant Price Recovers From Its Decline By Challenging The Level Of $116

Dec 09, 2023 at 12:16 // Price
Coin Idol

The price of Quant (QNT) has been rising since recovering from its previous decline.

Long-term forecast for Quant price: bullish

The decline ended above the $85 support level before the rebound resumed. The price of the cryptocurrency broke above the moving average lines and retested them before continuing to rise. The altcoin is rising as the bulls break through the resistance levels on the upside. 

At this point, QNT has risen to $115.80. QNT will reach the next resistance level of $120 where it may be rejected. If buyers break through the $120 resistance level, a rise to $132 is possible. Meanwhile, the cryptocurrency has entered the overbought area of the market.

Analysis of the Quant price indicator 

Quant's price bars are now above the moving average lines where they were previously controlled. The wick of the candle indicates significant selling pressure at higher prices. The moving average lines are currently moving upwards after initially falling downwards.

Technical indicators

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

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

QNTUSD_ ( Daily Chart) – Dec.09.jpg

What is the next move for Quant (QNT)?

After falling above the $85 support, Quant continued to move towards an uptrend. The value of the cryptocurrency is rising and reached a high of $116. The uptrend is challenged at the high of $116. The altcoin will return to its high if the current resistance is broken.

QNTUSD_ ( 4-hour Chart) – Dec.09.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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