Quant (QNT) Initiates Move to Attain a Higher Support Level

The market activity of the Quant token appears to be taking incremental steps toward discovering new and elevated support price levels. Since yesterday’s trading sessions, price movements have gained renewed bullish momentum, extending into today’s trading and causing prices to surge upwards by over 8%.

Key QNT Statistics:
Current Basic QNT Value: $111.00
Quant’s Market Cap: $1,342,751,429
QNT Circulating Supply: 12,072,738
Total Supply of QNT: 14,881,364
Quant CoinMarketCap Ranking: 54

Key Price Levels:
Resistance: $111.00, $112.00, and $113.00
Support: $110.00, $109.00, and $108.00

QNT Seems to Be Facing Opposition From Bear Traders

Quant token price action has progressed through Fibonacci Retracement Level 38.20. In today’s trading session, it has advanced in that direction, pushing prices further upwards through the highest band of the Bollinger Bands indicator. This has attracted the attention of some traders who have seized the opportunity to make a profit, resulting in some rejections of price movements. Nevertheless, the token continues to trade around the $111.00 mark.

Furthermore, the bars of the Moving Average Convergence Divergence (MACD) indicator suggest that bullish momentum is still prevalent in the market. The MACD indicator threads can be seen pointing steeply upward, indicating the prevailing trend.

Quant Bulls Get Challenged By Downward Forces

As price action in the QNT 4-hour market continues to hug the upper limit of the Bollinger Bands, a subsequent downward correction has occurred. However, the correction appears too minimal to be considered a trend reversal at this point, as price action still lies significantly above the uppermost limit of the Bollinger Bands indicator.

Although the latest bar on the MACD indicator reflects the impact of experienced downward correction, the MACD indicator lines remain at a significant distance above the equilibrium point. Therefore, this market seems likely to sustain the upside retracement towards the $114.00 mark.

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