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The price of Quant ($QNT) has fallen further and is approaching the expected low of $76.96.
Long-term Quant price prediction: bearish
On June 7, the bearish momentum broke through the previous low of $85 and reached $81 before retracing. The price of the cryptocurrency is correcting upwards to retest the $85 barrier.
Should the bulls break the $85 barrier, the recent slide could reverse. According to price analysis by Coinidol.com, $QNT will trade in a range between the $85 support level and below the moving average lines. However, if it is rejected at the $85 high, selling pressure will return. On the downside, the altcoin will fall but then reverse at the 1.272 Fibonacci extension or at $76.96.
Analysis of the quant price indicator
After the recent dip, the $QNT price bars have fallen even further below the moving average lines. Since April 14, the moving average lines have shown a bearish crossover, which occurs when the 21-day SMA crosses below the 50-day SMA. This indicates a bearish signal.
Technical Indicators
Important supply zones: $140, $150, $160
Important demand zones: $90, $80, $70
What is Quant's next move?
Quant has fallen below the moving average lines on the 4-hour chart. On June 7, the altcoin plunged to a low of $81 as bulls bought the dips. The price of the cryptocurrency is oscillating between support at $81 and resistance at $85 or the 21-day moving average line. $QNT's price is falling as it encounters rejection at the moving averages.
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.