Quant [QNT] Price Analysis: 05 April

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice.

• The market structure of QNT has been bearish since February
• The $130 level must be reclaimed before longer-term buyers can search for opportunities

As Ethereum [ETH] and Bitcoin [BTC] show bullish sentiment, it’s time to analyze the Quant (QNT/USDT) pair and understand its potential for traders. With a market cap of $1.5 billion, Quant has been hovering around the $125 price level and presented mixed signals despite the bullish sentiment in the market.

Read Quant’s [QNT] Price Prediction 2023-24

It experienced a modest 1.4% increase in the past 24 hours, and Quant faces important resistance at $130 and $160 and crucial support at $105 and $91. This technical analysis will examine various indicators in the one-day timeframe and provide insights into possible trading opportunities.

The market structure favored the bears but the momentum remained neutral

Source: QNT/USDT on TradingView

Relative Strength Index (RSI): The RSI for QNT/USDT stood at 49.7 at press time, indicating a neutral market momentum. This value suggested that neither buying nor selling pressure was dominating the market, and the price could move in either direction.

Bollinger Bands: The Bollinger Bands for QNT/USDT were slowly converging, hinting at a decrease in volatility. This development could signify a period of consolidation or a potential breakout in either direction in the near future.

On-balance Volume (OBV): The OBV for QNT/USDT has been flat since 13 March, suggesting that there was no significant buying or selling pressure driving the price. The lack of volume indicated that market participants were indecisive and waiting for a clear signal before committing to a position.

Chaikin Money Flow (CMF): With a CMF value of +0.05, there was a slight influx of money into QNT/USDT. While not an overwhelmingly bullish signal, it does suggest that there may be some buying interest in the market.

Moving Averages: The 21-period Simple Moving Average (SMA) for QNT/USDT was at 125.2, while the 55-period SMA stood at 127.9. The price, at press time, was trading just below both moving averages, indicating a bearish trend. However, if the price can break above these levels, it may signal a bullish shift.

Moving Average Convergence Divergence (MACD): The MACD for QNT/USDT was at -0.6, with both the MACD and signal line below the zero line. This bearish signal suggested that the market momentum was negative at press time, and the price may continue to decline in the short term.

Realistic or not, here’s QNT’s market cap in BTC’s terms

Parabolic SAR: The Parabolic SAR for QNT/USDT showed SAR dots above the price, indicating a bearish trend. Traders should monitor the SAR for any potential shift to below the price, which could signal a bullish trend reversal.

A surge above $130 does not yet look likely

While the broader cryptocurrency market was experiencing bullish sentiment, the QNT/USDT pair presented a mixed picture. The indicators pointed to a neutral to bearish outlook, with important resistance levels at $130 and $160 and support at $105 and $91.

Given the current market scenario, traders should closely monitor the QNT/USDT pair for a breakout above the 21 and 55-period moving averages or a break below the crucial support levels. A break above the moving averages could present a ‘buy’ signal, while a breach of the support levels may indicate a ‘sell’ opportunity.

In the meantime, traders should remain cautious and stay updated on any fundamental news or developments surrounding Quant and the broader crypto market, as these factors can significantly impact market sentiment and price action.