Quant's (QNT) price falls after failing twice at resistance at $110.
Although the cryptocurrency has fallen below the moving average lines, the bulls have been buying the dips. More details in this cryptocurrency analysis by Coinidol.com.
Quant has returned to the area between the moving average lines. The uptrend has stalled at the $102 resistance level. The current negative trend is leading to lower highs and lower lows. The recent lower high is near the $102 resistance level. If the buyers break through the resistance at $102, the downtrend will be over. The uptrend will continue.
However, if the buyers fail to break through the current high, the selling pressure will return. The altcoin will decline and reach a low of $84.
After the recent rally, the price of the cryptocurrency is now trading between the moving average lines. QNT is expected to fall as it approaches the $102 high or the 21-day SMA. A break below the 50-day SMA indicates that the downtrend has resumed.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
Quant value is trapped between the moving average lines. This will cause it to move within a certain range over the next few days. The altcoin is currently facing rejection at a high of $102. The market will see a further decline according to the price indices.
A week ago Coinidol.com reported that QNT/USD has fallen within the moving average lines as a result of the recent decline. The price of QNT/USD reached $96.88.
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.