Quant (QNT) Rebounds Off the $75 Mark

Though the crypto market isn’t at its very best as of now, the Quant token registered a minor price increase of just 1.54% at the time of writing. Going by technical standards, this market may still proceed lower over subsequent sessions. Let’s take a closer look below.

QNT Statistics

Current Price: $77.71

Market Capitalization: $935.63M

Circulating Supply: 12.07M

Total Supply: 14.88M

CoinMarketCap Rank: 62

Key Levels

Resistance: $80, $85, $90

Support: $75, $70, $65

Quant Stayed Under Bearish Pressure for a While

The QNT market saw a significant downward correction of its price over a period of two weeks. However, the previous session brought an upward retracement but currently proves to be insufficient. This is because price activity remains below the 9-day Exponential Moving Average.

Also, the ongoing session has presented only a downward retracement via the last price candle on the chart. But on the contrary, the Stochastic Relative Strength Index (SRSI) indicator lines are still rising upwards from the depth of the oversold region. This, however, may not offer much bullish impetus in this market.

QNT/USDT Tries to Keep Footing Above Key Levels

While the ongoing session on the Quant 4-hour chart remains red, it can be seen that price action here remains above the 9-day EMA curve. This therefore reveals that price action may be trying to find support nearby.

However, the SRSI indicator lines seem to largely negate this opinion, seeing that the lines of the indicator are positioned high in the overbought region.

Also, the terminals of these indicator lines are keeping to a downward trajectory following a crossover there. Therefore, headwinds still have the potential to push the market toward the $75 price level.

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