- Quant Price fell 15% in the current month and formed a bearish pattern.
- QNT Price rejected the 200 day EMA showing the positional trend is down.
- The Quant crypto price falling by forming lower low swings.
Quant Price fell 15% in the current month and dropped below the crucial support of $100.00. QNT price continues the downfall by forming lower low swings indicates sellers are highly active on higher levels.
Quant Price faced rejection from the 200 day EMA and also dropped below the 50 day EMA shows downtrend. Previously, it displayed a death crossover which already showed the sellers dominance.
In the mid of May, Quant Price took support near $100.00 and showed a sharp bounce from the lower levels. However, the momentum halted at $120.00 which acted as strong resistance for the bulls.
QNT crypto performed well in the January month and hit a high at $165.00. Later, the prices came down for minor retracement. But sadly due to sell off in the overall crypto market the QNT price failed to bounce back.
Slow and steady it declined and eroded the complete gains generated in January month. Meanwhile, In between downfall the short term pull back is visible but due to strong sellers every pullback is sold off.
Quant Price is trading at $98.00 with an intraday decline of -2.00%. The 24 hour volume to market cap ratio is 0.0139.
Will Quant Price reverse or decline further?
Quant Price is quite volatile and has decent liquidity. In the recent fall the surge in selling volume is not visible but price showed a sharp decline. It might be an indication of a trap which will be cleared in the coming few weeks.
If the QNT Price begins to consolidate near $100.00. Then we may say that responsive buyers are getting active and recovery is possible. However, if the price drops below $90.00 then the confirmation of breakdown will be visible and the next phase of downfall might begin.
On the higher side if Quant Price recovers then $120.00 will act as a hurdle in coming weeks. The technical analysis suggests, Quant Price is in bear grip but till it holds $90.00 the possibility of further decline seems low.
Will QNT Price repeat the historical pattern
QNT Price fell 11% in the previous week and trapped the short term buyers. In the past one year many times Quant price took support near $100.00 and buyers defended it.
So, Investors are expecting the QNT crypto to repeat the historical pattern. However, as of now Price action does not show any signs of bullish reversal.
The MACD curve slopes down and generates a negative crossover. It indicates that bears are active in QNT and more downside is possible. The RSI curve at 35 slopes down denotes weakness and prices are likely to test oversold territory soon.
Conclusion
Quant Price fell 15% in the current month and dropped below $100 support. But prices did not collapse and buyers are trying their best to rebound. The technical say suggest QNT Price is in downtrend but till it holds $90.00 the probability of further downfall is low.
Technical levels
Resistance levels: $120.00 and $134.00
Support levels: $95.00 and $87.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.