Quant Recovers As It Recaptures Key Support Above $100

May 08, 2024 at 11:01 // Price
Coin Idol

The price of Quant (QNT) is in a sideways trend, with the decline halted above the $91.50 support. QNT price analysis by Coinidol.com.

Long-term quant price prediction: range

The altcoin's price range has been between $91.50 and $105.50 since April 14, 2024. On May 1, the altcoin hit a low of $93.44, but the bulls bought the dips. QNT took an upward correction to a high of $106 but was rejected at the recent high. The 21-day SMA continues to limit the upside. QNT is now worth $97.96.

On the downside, extended candlestick tails suggest significant buying pressure at lower prices. On the upside, the altcoin will resume its uptrend if it recovers and breaks the 21-day SMA resistance. In the meantime, the altcoin is rallying to reclaim its key support above $100.

Analysing the quant price indicators 

The price bars remain below the 21-day SMA, suggesting that QNT could fall further. The 21-day SMA limits the cryptocurrency's upside. The moving average lines have formed a bearish crossover. The altcoin is in a downtrend, although selling pressure has always been halted above the $100 support.

Technical indicators

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

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

QNTUSD_ ( Daily Chart) –May 7.jpg

What is the next development for Quant?

Quant is currently trading in a range above the $91.50 support. The altcoin has been trading below the 21-day SMA resistance line but above the $91 support for the past two weeks. The sideways trend will be over if the resistance line is broken. The bulls have defended their current support of $91.

QNTUSD_ ( 4-hour Chart) – May 7.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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