Quant Experiences Bearish Fatigue On Reaching $90 Low
Cryptocurrency price analysis brought by Coinidol.com. The price of Quant (QNT) has fallen beyond its lowest price level.
Quant long-term price forecast: bearish
On September 11, the bears broke through the lower price level and reached a low of $90. The bulls bought the dips as the altcoin reached a new price range. Last week, Quant was trading between $90 and $94. The cryptocurrency is heavily oversold in the market. When the market became oversold, the cryptocurrency experienced bearish fatigue. If the support level of $90 holds, the cryptocurrency will recover. If the price breaks the $94 resistance, the uptrend will resume. The 21-day line SMA is currently slowing down the upward movement. A break above the moving average lines indicates the beginning of a new uptrend.
Quant price indicator analysis
Quant has fallen to an oversold area on the Relative Strength Index at level 27 for the 14 period. The price bars are trading just below the moving average lines. QNT has reached the oversold zone of the market. The Stochastic on the daily chart is currently below the level of 30. Above the current support, the negative momentum has stalled.
Key supply zones: $140, $150, $160
Key demand zones: $90, $80, $70
What is the next move for Quant?
Quant is in a narrow trading range in the lower part of the chart. It was trading in a tight range between $90 and $94 last week. The cryptocurrency has reached the oversold area and further declines are unlikely. If there are buyers in the oversold area of the market, the uptrend will resume.
As we reported on September 12, since August 17, the upward movement of QNT has been hindered by the shifting average lines or resistance at the $100 level. The moving average lines have rejected the cryptocurrency’s price twice.
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.
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