Quant Slips Into Consolidation As It Faces Rejection At $110

Aug 07, 2023 at 10:21 // Price
Coin Idol
Quant is trading in the bearish trend zone

Cryptocurrency analysts of Coinidol.com report, the price of Quant (QNT) may fluctuate within a certain range as long as the altcoin continues to consolidate above the $100 mark.

Quant long-term price forecast: fluctuation range 

The price range of the cryptocurrency asset is only between $96 and $120. The price range of the altcoin is currently limited to $96 to $110. The rise of QNT was stopped by the $110 barrier. The retraced candlesticks have support on the downside at levels above $100. Both the price gains and declines were slowed down by the Doji candlesticks. There is a possibility that the sideways movement between the moving average lines will continue. 

Quant price indicator analysis

The relative strength index remained unchanged at 44 in the 14th period. As the altcoin is trading in the bearish trend zone, the bears are in command. The price bars are below the moving average lines, which are horizontal. This shows that the cryptocurrency value is moving in a range. The altcoin has positive momentum above the daily stochastic threshold of 25.

QNTUSD(Daily Chart) – AUG. 6.23.jpg

Technical Indicators

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

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

What is the next move for Quant?

QNT's movement in a range could continue as Doji candlesticks dominate price action. The altcoin is settling above the $100 level. Price movement was limited or minimal due to doji candlesticks.

QNTUSD_(4 Hour Chart) – AUG.6.23.jpg

Last week Coinidol.com reported that earlier, the cryptocurrency asset recovered from its previous downturn and resumed a sideways pattern. The price of QNT fluctuated between $96 and $120. 

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 own research before investing in funds.  

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