Bears In Control Puts Quant Price At 13% Downside Risk

11 March 2023

in QNT

Reading Time: 2 mins read

QNT Price Prediction: Under the influence of a resistance trendline, the Quant price has given the ongoing correction phase a visible downtrend. This last six-week downfall has nearly evaporated the entire January month gains and plunged the coin to its current price of $115. Here’s how interested traders may find long entry opportunities in Quant coin.

Key points:

The QNT price will continue its ongoing downfall until the resistance trendline is intact
A potential bearish crossover between the 50-and-100-day EMA could intensify the selling pressure for quant coin.
The intraday trading volume in the Quant is $430 Million, indicating a 39% loss

Source-Tradingview

Amid the ongoing correction in the Crypto market, the quant coin has showcased a V-top reversal from the $164 peak. In the last three weeks, the steady downfall has tumbled Quant’s market value by 30% and plunged into the $115.8 mark.

Furthermore, the daily time frame chart shows a downsloping timeline that has been carrying the current downtrend, which creates market sentiment where traders are actively selling on rallies. Therefore the interested market participation should closely watch the resistance trendline as it may further influence the joints QNT’s near future price

Also Read: What Is Regenerative Finance (Refi) And Who Is It For?

Thus, under the influence of this resistance trendline, the sellers may plunge the Quant price to the following support levels of $116, followed by the three months bottom support of $100

On a contrary note, a possible bullish breakout from the resistance trendline will signal an early sign of trend reversal.

Technical Indicator.

MACD: The MACD(blue) and the signal(orange) line show a slow yet steady downfall below the neutral line indicating sustained selling in the market.

EMAs: the quant price plunged below the crucial EMAs(20, 50, 100, and 200) indicating the market resorted to bear trend sentiment.