coinidol.com
The price of Quant ($QNT) is falling after breaking through resistance at $110 three times. Weekend price analysis by Coinidol.com.
Long-term quant price forecast: bearish
Initially, the price of the Quant fell below the 21-day SMA and retested the moving average line and resistance at $106 before falling further. Bearish momentum reaches the 50-day moving average line. If the bears break the 50-day SMA line, the selling pressure will continue to the previous lows.
Beyond that, $QNT will drop to a new low of $91. The altcoin will be forced to move in a range between the moving average lines if the 50-day SMA support holds. The price of $QNT/USD currently stands at $96.88.
Quant price indicator analysis
$QNT/USD has fallen within the moving average lines as a result of the recent decline. The altcoin will therefore fluctuate between the moving average lines. $QNT will develop a trend when it breaks above the moving average lines. The moving average lines are sloping upwards, indicating that the previous trend is still in place.
Technical Indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next move for Quant?
Quant has shifted to a sideways movement after being rejected at the $110 resistance level. The cryptocurrency will continue to fluctuate for a few more days as it is trapped between moving average lines. If the price of $QNT falls below it, the decline will resume.
The price of Quant has been fluctuating between $96 and $110 since October 26, as Coinidol.com reported in our previous analysis.
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.