Bears Dominate Quant (QNT) Market Despite Indicators’ Forecasts

  • Indicators point to a potential turnaround if the bulls fight on.
  • During the recession, the QNT prices range between $132.96 and $136.44.

Quant (QNT) market bearishness has increased in the previous 24 hours, with prices ranging between $132.96 and $137.33. As a byproduct of the bearishness, market participants have grown more cautious in their judgments, and traders have taken a wait-and-see strategy. At press time, the bears’ hand had reduced the QNT price to $133.37, a 2.81% drop.

This drop had contributed to the market’s general bearishness, with traders now apprehensive of investing in QNT, causing a 2.79% and 18.11% drop in market capitalization and 24-hour trading volume, respectively, to $1,610,310,082 and $22,025,409. Nonetheless, despite the bearishness in the QNT market, long-term holders have remained firm, refusing to be rocked by the volatility.

QNT/USD 24-hour price chart (source: CoinMarketCap)

The bearish trend in QNT remains apparent as the Keltner Channel bands move linearly, with the top band at 138.014687 and the bottom bar at 131.471048. Although the negative trend is clear, a breakout in QNT is probable if the price rises above 138.014687 or falls below 131.471048. Since the price movement has moved below the middle band, there is a good chance that the negative trend will continue in the near term.

Although in the negative zone with a value of -10.8968, the Know Sure Thing (KST) moves north and above its signal line. This move suggests that the bearish trend in QNT may end, and a breach of the Keltner Channel bands may offer confirmation.

With a value of 44.61, the Relative Strength Index (RSI) is trending below its signal line, indicating that the bearish trend is gaining momentum. As a result, despite the KST’s northward trend and the RSI’s negative bias, QNT will probably continue to suffer a bearish trend soon. But, if a bullish breakthrough of the Keltner Channel bands emerges, the negative trend may reverse.

QNT/USD chart by TradingView

With a value of 28.56, the stochastic RSI is trending below the signal line, implying that the QNT market is oversold and might be ready for a reversal soon. As a result, while trading in the QNT market, investors and traders should be aware of this trend and seek prospective chances to profit from the potential upsurge.

The TRIX reading of -6.99 indicates that the negative trend in QNT may continue in the immediate term. Still, increased purchasing pressure might trigger a reversal and a move to positive market momentum. As a result, investors and traders should keep an eye on the present negative trend while bracing for a possible positive turn soon.

QNT/USD chart by TradingView

According to indicators, the bullish trend may resume soon as the negative momentum may fade.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Related Articles

Back to top button