Quant Slips Below $100, Bears Threaten Short Positions

Feb 05, 2024 at 07:18 // Price
Coin Idol

The price of Quant (QNT) has fallen below the moving average line and started a new downward slide. Quant price analysis by Coinidol.com.

Long-term Quant price forecast: bearish

The current support level of $106 has held since January 8. On January 22, the bears broke through the existing support level and retested it before the downtrend resumed. The altcoin is currently trading at $100.74. The cryptocurrency is on the verge of a further downward decline.

Based on previous analysis and price projections, QNT/USD will continue to fall until a bottom is reached above the $79.82 support. Price activity shows that selling pressure has started on the downside.

Analysis of Quant price indicators

Quant traded modestly due to doji candlesticks dominating the price action. The moving average lines are trending consistently downwards with the SMA of the 21-day line acting as a resistance line.

Technical Indicators

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

Key demand areas: $90, $80, $70

QNTUSD_ ( Daily Chart) – FEB .04.jpg

What is the next move for Quant?

After the dip on January 23, the altcoin has held above the $100 level. Today, the bears are trying to break through the $100 support and continue the downtrend. The price action has been dominated by small, indecisive candles, known as doji. These candles indicate the indecision of buyers and sellers regarding the direction of the market.

QNTUSD_ ( 4-hour Chart) – FEB.04.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 the research before investing in funds.

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