Quant Price Pulls Back After Rejection At $150 High

The price of Quant (QNT) has been trading above moving average lines as the altcoin attempts to recover from its downtrend.

Quant price long term forecast: bullish

According to price analysis by Coinidol.com, buyers have tried to hold the price above $150 four times since December 26, 2023. On March 25, 2024, the altcoin reached a high of $150 before being pushed back.

QNT has pulled back above the 21-day SMA or the low of $131. The uptrend will continue if the altcoin maintains its 21-day SMA support. QNT will fall if the price drops below the 21-day SMA. The altcoin will fall above the 50-day SMA and eventually reach the previous low at $106.11.

Analysis of quant price indicators 

After the recent dip, QNT’s price bars are still above the 21-day SMA. The cryptocurrency will rally if the 21-day SMA support holds. On the upside, the altcoin has extended candlestick wicks. A long candlestick wick indicates significant selling pressure at higher price levels. The altcoin will resume its uptrend once it breaks the resistance above $150.

Technical indicators

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

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

What is the next development for Quant?

On the 4-hour chart, QNT has been trading in a sideways trend since March 5, 2024. The price of the cryptocurrency has been fluctuating between $112 and $145. The current range is the result of buyers’ inability to break through the $150 barrier. If buyers fail to break through the resistance at $150, the existing range will remain unchanged.

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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• Source: https://coinidol.com/quant-price-after-rejection/