Quant Pauses Over $115, But Tends To Move In A Range

The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price analysis by Coinidol.com.

Long-term Quant price prediction: ranging

This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average lines, just like in the previous scenario. If the bears manage to break the 50-day simple moving average, the market will fall to $108.

Analysis of the Quant price indicator 

QNT was rejected at $150 and is currently stuck between the moving average lines. In the meantime, the moving average lines are trending higher despite the decline. Prices have a tendency to move between the moving average lines. The 4-hour chart shows a recent decline with the price bars below the moving average lines.

Technical Indicators

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

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

What is the next development for Quant?

After rejecting the recent high, Quant is now in a downtrend. The current downtrend is slowing down as it is moving between the moving average lines. If the downtrend is stopped above the 50-day SMA, the uptrend will begin. However, if the 50-day SMA support is broken, QNT will fall much further.

On December 26, the altcoin reached a high of $153 before falling back again as Coinidol.com reported before.

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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• Source: https://coinidol.com/quant-pauses-over-115/