The Quant price analysis reveals QNT/USD is on recovery after going through a bearish slide for the last two days. During the last two days, bears devalued the coin value significantly, bringing it down to $78.8 after it last peaked at 85.1 on 09 July 2022. But today, the bulls have returned to the market with a notable rise in price, as they boosted the price function to $81.7. Bulls have toppled the resistance present at $80.9, and further improvement is also expected. The next resistance for QNT/USD is present at the $85 mark, but as the price has already reached the resistance zone so a selling pressure can also trigger at any time.
QNT/USD 1-day price chart: Price nears the resistance zone
The 1-day price chart for Quant price analysis shows the bulls have been defining the price action for most of the time during the past week, and the QNT/USD price peaked at $85.1 and then corrected. A rise in price has been recorded again during the last 24 hours, as the price climbed back to the $81.7 level till the time of writing, gaining eight percent value during the last 24 hours. The cryptocurrency also gained a massive 32 percent value over the past week, which is a huge accomplishment. If we mention the moving average (MA) indicator in the one-day price chart, then it is at the $71.8 position.
The volatility has been very high, spanning over a range of $84 on the higher side and $42 on the lower side, with the Bollinger bands maintaining their average at the $63 mark. The upper band represents resistance for QNT, and the lower band represents support for QNT. The Relative Strength Index (RSI) score has reached near the border of the oversold zone at index 67, with its upward curve indicating the buying activity in the market.
Quant price analysis: Recent developments and further technical indications
The four-hour Quant price analysis is showing signs of an upswing as the price has increased remarkably during the day. The bullish momentum has been intensifying over the past few hours again, and the price has been progressing upwards till the last hour. Currently, it is present at the $81.7 mark. The moving average is still at a lower level as compared to the price, i.e., at $71.8, but SMA 20 is trading above SMA 50, which is a further bullish indication.
The Bollinger bands indicator in the four hours price chart maintains the average value of $79. Whereas its upper value has reached the $89 limit and its lower value is at the $70 position, the indicator shows high volatility for QNT. The RSI score is increasing again as the price is going up again due to the recent bullish activity in the market. The RSI indicator shows a reading of 56 on the 4-hour chart.
Quant price analysis conclusion
The Quant price analysis shows bulls are taking the price up again and has rallied high today towards $81.7. We expect QNT/USD to continue upside towards $85 today. However, a correction may also start as the price is nearing the last peak point.
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.