Quant Token Retreats Below Moving Average, Signaling Bearish Market

The Quant Crypto price has fallen below the 200-day exponential moving average, indicating bearish sentiment. In the past three weeks, QNT's value has decreased by 31%. The $150 level has been a strong resistance for the Quant crypto price for the past year, with multiple rejections in recent months.

Quant Crypto Price Retreats Below Critical Moving Average, Signaling Bearish Momentum

Market Overview

The Quant (QNT) cryptocurrency has succumbed to bearish pressure, slipping beneath the crucial 200-day exponential moving average (EMA), a technical indicator often used to assess the long-term price trend. This technical setback has exacerbated a broader price decline, with QNT losing approximately 31% of its value over the past three weeks.

Technical Analysis

Chart analysis reveals that Quant's price has consistently encountered resistance at the $150 level for the past year. Despite attempts to breach this hurdle, sellers have persistently thwarted bullish advances. This resistance barrier has played a pivotal role in suppressing upward momentum, further evidenced by the three consecutive rejections faced by the price at the $150 mark over the last four months.

Intensified selling pressure has plagued the Quant token, resulting in an approximate 30% depreciation. The price has now breached the 200-day EMA and is currently holding above the $100 support level.

Technical indicators, such as the Relative Strength Index (RSI), paint a bearish picture. The RSI has been declining over the past month, approaching the oversold territory, indicating that sellers have the upper hand. The current price action of Quant crypto trading below exponential moving averages further reinforces the prevailing negative sentiment.

Volume and Price Dynamics

An examination of the volume and price graph reveals a dwindling trading volume, characterized by lower lows. The monthly trading volume has plummeted from $120 million to a mere $18 million, mirroring the corresponding decline in QNT's price. A resurgence in trading volume could potentially ignite bullish momentum.

Social Dominance and Volume Metrics

Social volume and social dominance metrics suggest that Quant crypto's social media engagement has remained relatively constant in recent months. However, any significant shifts in these metrics could potentially influence the direction of QNT's price.

Daily Timeframe Analysis

On a daily timeframe, Quant has found support at the $100 mark. The price has retreated to this level and has fallen below the exponential moving averages.

Should the QNT crypto price continue to trade below the $100 support level, sellers may gain confidence, prompting buyers to liquidate their positions. A scenario like this could trigger a wave of panic selling, leading to a further price decline over the coming weeks.

Conversely, if Quant's price manages to defend the $100 mark and rebound, it could regain some bullish momentum in the short term. A breakthrough above the 200-day EMA could potentially propel the price towards $150.

4-Hour Timeframe Analysis

On a 4-hour timeframe, Quant is currently trading at $100.38, representing a 1.38% decline over the past 24 hours. The market capitalization stands at $1.21 billion, while the fully diluted market cap is $1.50 billion. The circulating supply of QNT is 12,072,738, with a total supply of 14,881,364 QNT.

Within the 4-hour time frame, QNT's price has been declining due to resistance from a trendline. If the Quant token price successfully breaks above the trendline and sustains its momentum, it could signal a short-term buying opportunity.

On the other hand, if the Quant crypto price fails to overcome the trendline and sellers maintain their dominance, the price may face further declines in the coming days.

Conclusion

Technical analysis of the Quant crypto price reveals a market currently dominated by sellers. The price has experienced a significant drop in recent weeks and is trading below the 200-day exponential moving average. The resistance at the $150 mark remains formidable, suggesting a lack of bullish momentum.

Technical Levels

• Resistance Levels: $105 & $123
• Support Levels: $95 & $84

Disclaimer

This article is solely intended for informational purposes and should not be construed as financial, investment, or other advice. Neither the author nor any individuals mentioned in this article bear any responsibility for financial losses incurred as a result of investment or trading decisions. It is imperative to conduct thorough research before making any financial decisions.