The post Quant Price Continues Stumbling! Is Another 10% Underway For QNT Price? appeared first on Coinpedia Fintech News
The crypto industry continues to display significant price volatility, highlighting increased tension between the bulls and the bears. Further, top tokens continue to display constant decline, suggesting a bear power in the market.
The Quant price constantly traded in a consolidated range between $111.1 and $113.8 for a period, following which the market lost momentum and the QNT price experienced a loss of over 5%.
TradingView: QNT/USDT
After testing its low of $107.8, the market bulls regained momentum and broke out of multiple resistance levels. The QNT token jumped over 5.5% in valuation, following which the price traded sideways for a while with the help of its support level.
The bulls made multiple attempts to gain power, but the bears overpowered the bulls, resulting in a price breakdown. The price then traded sideways for a while, displaying a neutral trend in the crypto space.
As the market regained momentum, the price gained just enough power to break out of its resistance level where it traded sideways for a while. Since then, the price has been constantly trading under a bearish influence, indicating a higher selling-over-buying pressure in the market for the coin.
Will QNT Price Hit $115 Soon?
The Relative Strength Index (RSI) displays a bullish curve in the chart, indicating an increase in the bullish sentiment in the market. Further, the averages show a high possibility of a bullish convergence, suggesting a bullish trend reversal soon.
If the market pushes the price above its resistance level of $109.8, the bulls will regain power and test its upper resistance level of $111.1 soon. Maintaining the price at that level will set the stage for Quant to attempt to test its resistance level of $112.4 in the coming time.
Conversely, if the bears continue to gain power, the QNT price will fall to test its support level of $107.8 soon. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of 106.3 during the week ahead.