Quant Price Risks Further Decline At Over $110

Jan 21, 2024 at 10:45 // Price
Coin Idol

The price of Quant (QNT) is still in the downtrend zone. Latest Quant price analysis by Coinidol.com.

Long-term forecast for Quant price: bearish

After an initial slide above the $106 support, the cryptocurrency has consolidated above $110. Since January 8, 2024, sellers have retested the $106 support three times but have failed to resume selling pressure. According to price indications, QNT will fall lower than the current support level of $106.

On the price decline on January 8, QNT corrected upwards with a candlestick body testing the 61.8% Fibonacci retracement line. This predicts that the altcoin will continue to fall until the 1.618 Fibonacci extension or $79.80. At this point, the value of the altcoin stands at $114.15.

Analysis of the quant price indicator

The QNT price is at risk of a further decline as the price bars are below the moving average lines. The moving average lines are sloping downwards, indicating a current decline. The cryptocurrency is trading modestly due to the doji candlesticks.

Technical indicators

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

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

QNTUSD_ ( Daily Chart) – Jan .20.jpg

What is the next move for Quant (QNT)?

It is predicted that the cryptocurrency value will continue to fall after rejecting the $122 high.

However, over the past week, the price of the altcoin has been hovering between $106 and $122. The price movement was halted by doji candlesticks.

QNTUSD_ ( 4-hour Chart) – Jan.20.jpg

Coinidol.com reported on January 14, that QNT was trading at $116 previously and has been moving between the moving average lines .  

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.

Show comments(0 comments)