- Quant price prediction shows that QNT is stuck on a bearish trajectory
- QNT crypto price delivered a loss of 32.63% in the last 6 months
- QNT is trading in range-bound condition near the support of $102
Quant’s (QNT) price prediction reveals a strong downtrend for the QNT token, which started with a rejection from the resistance of $158 in January 2023. The price made a bull run of 56% from its swing low of $108. The QNT token peaked at $164 before the price began to fall. The bulls lost control, forcing the price to fall by 41.80%, where the QNT token bottomed at $95. At present, the price is trapped in a small range as it tries to recover from the fall.
At the time of writing, the current market price of Quant is $102.91. The 24-hour trading volume fell 9%. The market is down 0.57% in the last 24 hours. The overall market cap of QNT is $1,242,449,049.
Will QNT Escape the Range To the upside?
Quant’s (QNT) price prediction highlights the bear-dominated market as the price struggles to maintain support levels. The QNT price is 9.5% below the 200 EMA, which marks the bearish trend of the market. The price has been range-bound since May 2023, when the bears kept the price below the resistance of $119.
The low volume reveals the disinterest of investors due to the declining prices. The QNT crypto price revolves around the 9 and 15 EMA, which is a sign of sideways price action. Currently, the price is playing along the support level of $102 with absolutely no momentum. This indicates that the market is under fear and filled with trapped investors who want to exit the market with minimum losses, thus adding to the selling pressure.
Can QNT Sustain Above the Support?
The QNT crypto price displays sideways price action on the 4-hour chart. The bulls are struggling to break the 200 EMA, where the sellers maintain a strong grip. The small candles and choppy movement highlight the lack of momentum. These factors are stopping new investors from stepping in.
Although the market is sideways, the price is mainly dominated by the bears, with a high probability of further decline. The bulls have to show strength to break past the 200 EMA and the local resistance to shift the trend to bullish. As of now, there is no major sign of reversal, and the price may continue to move sideways in the short term.
RSI
The RSI indicator is currently at 45.16 It represents bearish to sideways conditions where the price may continue to fall until RSI exceeds 50. Aggressive selling may happen only if RSI goes below 30
MACD
MACD has made a bearish crossover while moving adjacent to the signal line along the 0 line. This means the market is lacking momentum and it may move sideways.
200 EMA
On the 4-hour chart, the price trades around 200 EMA. This represents a sideways condition where the trend of the market is unclear. The market will establish a strong trend once the price moves away from the 200 EMA
Conclusion
Quant’s (QNT) price prediction reveals a strong downtrend for the QNT token, which started with a rejection from the resistance of $158 in January 2023. The present state of the market is bearish to sideways. The market is missing volume and momentum. The best thing to do is to wait for signs of reversal such as a bullish reversal pattern. Meanwhile, a few investors may accumulate at this level due to cheap prices. It would be wise to maintain a good risk management plan to minimize losses.
Technical Levels
- Support Level: The nearest support level is $95
- Resistance Level: The nearest resistance level is $119
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.