Quant (QNT) is dropping below moving average lines despite bulls buying dips on January 8. Cryptocurrency price analysis by Coinidol.com
Long-term price forecast for Quant: bearish
The altcoin is currently trapped between the moving average lines due to the rally. If the bears break below the 50-day SMA, the downtrend will begin. The altcoin will fall to the lows of $108 and $96.
On the other hand, if the price breaks above the 21-day SMA, the upward momentum will increase. The value of cryptocurrencies will rise back to its high of $150. At the time of writing, QNT is trading at $116. QNT has been trading between the moving average lines in the meantime. If the moving average lines are broken, the altcoin will develop a trend.
Quant Price Indicator Analysis
The QNT price bars are between the moving average lines. Its range will change as a result. Additionally, extended candlestick tails are used to represent price activity. This indicates that there is significant buying pressure at lower prices below the moving average lines.
Technical indicators
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next move for Quant?
The cryptocurrency-related asset is bearish and moving between the moving average lines. If the bears break the 50-day SMA, the cryptocurrency is about to fall to the bottom of the chart. QNT will fall to its previous low of $85. The altcoin, meanwhile, is still trading above the $116 support level.
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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