Quant Price Falls Back To $120 Due To Persistent Rejection

Dec 25, 2023 at 06:08 // Price
Author
Coin Idol

Quant (QNT) continues to trade sideways below the $120 mark.

Long-term forecast for Quant price: range

Previous price action has shown that the market is in an upward correction as the cryptocurrency recovers from its earlier downturn. The upward movement has been halted three times by resistance at $120. The altcoin's inability to reach the previous high has prompted it to resume a sideways trend below the resistance zone at $120. Quant is at $115 at the time of writing.

On the positive side, a break of the $120 resistance level will see the altcoin rise to a high of $150. On the other hand, Quant will widen its trading range if it fails to break the resistance at $120.

Analysis of the Quant Price Indicator 

The price bars are leaning to the left and right of the moving average lines. The price is currently above the 21-day SMA, which allows the altcoin to rise. If the price bars fall below the moving average lines, the cryptocurrency will fall. The long wick of the candle at the recent high indicates that there is significant selling pressure at the higher price level.

Technical indicators

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

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

QNTUSD_ ( Daily Chart) – Dec.23.jpg

What is the next development for Quant?

Since December 9, the price of QNT/USD has been stuck below the $120 resistance level. The altcoin is currently trading in a range of $106 to $120. Once the current resistance is broken, the cryptocurrency value is likely to rise. Further declines in the cryptocurrency are unlikely.QNTUSD_ ( 4-hour Chart) – Dec.23.png

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.

Comments

Post a Comment

Popular posts from this blog

STX Hits 52-Week High! Ascending Channel Points to Bullish Trajectory

Image
Stacks (STX) soars 8.74% in 24 hours, hitting a 52-week high at $2.06, riding the crypto wave. STX’s rise is attributed to Bitcoin optimism and its role as a layer 2 solution. Technical analysis points to a bullish trend, aiming for $2.6, but watch out for potential corrections at $1.6. Stacks (STX) has continued its upward trajectory, with its price recently reaching a 52-week high of $2.06, marking an 8.74% increase in just 24 hours. This surge is part of a broader trend that has seen the cryptocurrency gain 749% over the past year. Market analysts attribute this impressive performance partly to the growing optimism surrounding the potential approval of a spot Bitcoin ETF, which could further galvanize the cryptocurrency sector. STX/USD 24-hour price chart (source: CoinStats ) During the bull rally, STX’s market capitalization and 24-hour trading volume surged 9.45% and 24.95%, to $2,852,664,529 and $715,025,179, respectively.  Stacks as a...
Read more

XAI tanks by 20% after airdrop and Binance listing

Image
The layer-3 gaming token fell by more than 20% after an airdrop and Binance listing on Jan. 9. According to CoinGecko, the layer-3 gaming token Xai has fallen by more than 22% in 24 hour trading. The current price of the token is $0.5231. X rate fell sharply just a day after reaching an all-time high on Jan. 9, in which the price of the coin was $0.7734. Source: CoinGecko The token price collapse occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it offered 125 million XAI tokens (or 5% of the total token supply) to eligible users, including holders of certain Xai NFTs and those operating gatekeeper nodes or validators that help support the network. Dear Xai Community, As we approach the XAI token claim, it's crucial to stay vigilant against potential scams. Please carefully read and follow these guidelines: Official Contract CLAIM Address: The ONLY legitimate $XAI airdrop claim contract address is… — XA...
Read more

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, th...
Read more