The price of Quant (QNT) is still in the downtrend zone. Latest Quant price analysis by Coinidol.com.
Long-term forecast for Quant price: bearish
After an initial slide above the $106 support, the cryptocurrency has consolidated above $110. Since January 8, 2024, sellers have retested the $106 support three times but have failed to resume selling pressure. According to price indications, QNT will fall lower than the current support level of $106.
On the price decline on January 8, QNT corrected upwards with a candlestick body testing the 61.8% Fibonacci retracement line. This predicts that the altcoin will continue to fall until the 1.618 Fibonacci extension or $79.80. At this point, the value of the altcoin stands at $114.15.
Analysis of the quant price indicator
The QNT price is at risk of a further decline as the price bars are below the moving average lines. The moving average lines are sloping downwards, indicating a current decline. The cryptocurrency is trading modestly due to the doji candlesticks.
Technical indicators
Important supply zones: $140, $150, $160
Important demand zones: $90, $80, $70
What is the next move for Quant (QNT)?
It is predicted that the cryptocurrency value will continue to fall after rejecting the $122 high.
However, over the past week, the price of the altcoin has been hovering between $106 and $122. The price movement was halted by doji candlesticks.
Coinidol.com reported on January 14, that QNT was trading at $116 previously and has been moving between the moving average lines .
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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- Source: https://coinidol.com/quant-price-risks-further-decline/
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