Cryptocurrency price analysis brought by Coinidol.com. Quant (QNT) price has returned to its negative trend zone after failing to resume an uptrend above the moving average lines.
The altcoin recovered and broke above the moving average lines on August 26 to reach a high of $105. The positive momentum failed to break through the $112 resistance level, which led to the decline. If the buyers were successful, the sideways trend may have ended.
When the altcoin lost value, sellers were active at higher price levels. On the downside, the lower price area of $97 provided solid support. This support has not been breached since June. The altcoin has fallen below the moving average lines and reached a low of $98. The declines have slowed as the altcoin has consolidated above the $98 support level. The altcoin is now trading within the range at $99.72.
Quant is now at the Relative Strength Index 44 level for the period 14. The altcoin is in a bearish trend as it continues to move sideways. The price bars are currently below the moving average lines, which indicates that they will go down. The Stochastic on the daily chart shows an upward correction above the 50 level. The upward correction is rejected at the simple moving average of the 21-day line.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
The altcoin is back in the bearish trend zone. QNT has been limited to trading below the moving average lines but above the lower price range. The price movement has been slowed down by the appearance of doji candlesticks. This will lead to further consolidation above the moving average lines.
On August 28, 2023 cryptocurrency analytics specialists of Coinidol.com stated that the cryptocurrency has broken through the moving average lines and resumed its uptrend. The price indicator predicts that QNT will rise to a high of $109.
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.