Quant Slips Sightly As It Encounters Rejection At $108

The price of Quant (QNT) has fallen below the moving average lines but above the $100 support. QNT price analysis by Coinidil.com.

Quant Price Long Term Forecast: Bearish

Since February 4, the current support has held as the altcoin continued its uptrend. The 21-day SMA has put the brakes on the upside. It is doubtful that upside moves above the moving average lines are now unlikely. Quant is on the retreat after its rejection of the 21-day SMA.

According to the price indications, the altcoin is likely to fall further to its previous lows. Should the bears break the $100 support, the market would drop to a low of $79.82. In the meantime, the altcoin is trading above the current support level of $100 but below the 21-day SMA.

Coinidol.com reported before that on January 22, the bears broke through the existing support level and retested it before the downtrend resumed.  

Analysis of the quant price indicators 

The price bars are below the moving average lines, indicating that the cryptocurrency is being rejected at the 21-day SMA. At the 4-day SMA, the price bars are neither above nor below the downward sloping moving average lines. The altcoin's price action is turbulent.

Technical Indicators

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

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

What is Quant's next move?

Quant is expected to fall back to the previous low after failing to break through the $108 high. The decline has started below the moving average lines on the 4-hour chart. However, the presence of doji candlesticks has delayed the price movement.

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.