Quant Reaches Bearish Exhaustion As It Recovers Over $100

Apr 16, 2024 at 15:28 // Price
Coin Idol

Quant's (QNT) rally has stalled as the price has risen above the key $100 support level.

Long-term price forecast for Quant: bearish

In the latest market move, QNT rose to the $150 resistance zone on March 26, 2024 but was rejected. The altcoin faced a fierce rejection and quickly plunged to a low of $85.

On the flip side, the bulls bought the dips as the market rallied above the $100 support. The bearish momentum has calmed down as the altcoin's price hovers between $90 and $122. QNT will resume its uptrend once it rises above the moving average lines or resistance at $122.

On the downside, a long candlestick tail signals strong buying above the $85 support level. QNT is trading at $100 at the time of publication.

Analysis of the Quant price indicator 

The price bars are falling below the horizontal moving average lines. QNT has been in a sideways trend since December 26, 2023, with buyers failing to sustain the price above the $150 resistance level. QNT also has a bearish crossover that occurs when the 21-day SMA crosses below the 50-day SMA, which is a negative signal.

Technical Indicators

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

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

QNTUSD_ ( Daily Chart) – April 15.jpg

What is the next development for Quant?

After its recent dip, QNT has recovered above the key support level of $100. The altcoin is trading in the bearish trend zone, albeit within a small range. The altcoin is correcting upwards, although it is facing initial resistance at $105. The current price range of the altcoin is between $90 and $122.

QNTUSD_ ( 4-hour Chart) – April 15.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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