QNT Price Analysis: Quant finds support at $273, set for a downtrend?

QNT Price Analysis

TL;DR Breakdown

  • QNT price analysis is bullish for today, down by 2%.
  • QNT/USDT pair found support at $273, which currently holds.
  • The nearest resistance is present at $307.5 and another at $318.2.

The QNT price analysis is bearish for today as the prices are down by 2%, currently at $289.5. According to the data presented by CoinmarketCap, the trading volume of the token shot up by 3.15%, currently at $68 million. The market cap fell by 1.90%, at $3.4 billion.

In the past 24-hours, the token rose to a high of $302.86 and a low of $285.59 and is currently down by 32.56% from its all-time high made a month ago. For today, the highest price remains at $296.5 as the bulls found resistance at $307.5.

The monthly high for October remains untouched, at $344.6, while the prices are bearish as compared to September. In the month of September, the prices rose by 59.45%, starting at $182, reaching a high of $430, followed by a closure at $290.2.

QNT price analysis on the daily chart using technical indicators

The technical indicators show that the price of the taken remains bearish for today as the Bollinger Bands have become narrow, indicating decreased volatility. Since the prices are situated in the lower end of the Bands, a breakout from the lower end is possible.

The RSI indicator shows a reading below 50-level, indicating that the selling pressure is increasing, and we might see lower prices in the short term. Furthermore, the gradient is slightly negative as bears take charge.

QNT Price Analysis
QNT Price Analysis on the daily chart by TradingView

The position of the price action below the 50-day Moving Average indicates a bearish short-term price action. Although, we can further see that the price action remains above the 100-day MA, indicating a bullish long-term price action.

The MACD indicator places the signal line above the MACD line, turning the price action bearish in the short term. The histogram is full of red bars, but we can also see that the intensity of the red bars is decreasing as the two lines are very close.

QNT Price Analysis: Quant finds support at $273, set for a downtrend? 1
QNT Price Analysis on the daily chart by TradingView

QNT price analysis: Conclusion

The conclusion of our QNT price analysis is bearish for today as the token was unable to break above the price resistance. However, the current support holds as the coin tries to breach above the price resistance.

Until you are waiting for your investment to grow, have a look at our guides.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
John Lincoln

John Lincoln

Lincoln contributes blockchain and crypto perspectives that meet the industry's selective information needs in a timely, undiluted fashion. His greatest wish is to share transformational technology through an engaging and easy-to-read style, making complex topics accessible to all.

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