Quant (QNT) value has remained constantly beneath the transferring common traces.
Quant long-term value forecast: within the vary
On Might 8, the cryptocurrency reached a low of $102, after which consolidation resumed above this stage. The value of the cryptocurrency has not modified a lot right this moment, however as of this writing, it’s at $106. On the detrimental aspect, the value of the cryptocurrency has remained fixed at $106 since March 9. The present assist was damaged by the bears on Might 8, however the bulls purchased the dips. The cryptocurrency worth has returned to its previous buying and selling vary between $106 and $130. The 21-day line SMA prevents the cryptocurrency from transferring greater. Nevertheless, a value restoration will assist QNT restore optimistic momentum.
Quant value indicator evaluation
The cryptocurrency is buying and selling at stage 39 of the Relative Power Index for interval 14 and is within the bearish pattern zone. Within the bearish pattern zone, QNT is susceptible to additional declines. With the value bars beneath the transferring common traces, the worth of the altcoin will proceed to say no. The every day stochastic worth of 80 is above the cryptocurrency’s value. The overbought zone has been reached by the market. The overbought space will reject the altcoin.
Technical indicators
Key provide zones: $140, $150, $160
Key demand zones: $120, $110, $100
What’s the subsequent step for Quant?
QNT/USD has been transferring in a variety between $106 and $130. If the bears break the present assist and the detrimental momentum continues, the altcoin will come below additional promoting stress. The cryptocurrency is trapped between the transferring common traces on the decrease timeframe. This implies that the altcoin must transfer in a variety for a number of extra days.
Disclaimer. This evaluation and forecast are the private opinions of the writer and will not be a suggestion to purchase or promote cryptocurrency and shouldn’t be seen as an endorsement by CoinIdol. Readers ought to do their very own analysis earlier than investing in funds.
