QNT’s price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $100.
QNT’s price continues to look weak as bearish market sentiments increase, with things looking uncertain for most traders and investors.
QNT’s price looks weak and continues to trade below the daily 50 Exponential Moving Average (EMA) as bulls attempt to reclaim the region.
The price action displayed by Quant (QNT) in previous weeks was not short of a spectacle but has yet to meet those expectations, with the price showing so much price action in recent weeks, rallying to a high of $240. Following the collapse of the FTX effect affecting small crypto projects like Genesis as the market continues to look weak on each passing day signifying the bottom is not yet in, leading to the price of many altcoins, including Quant (QNT), battling for survival. The Domino effect of the FTX saga on investors has left the market at a standstill as the market has yet to make a major move after previous weeks saw the price of QNT struggling to hold above $100. (Data from Binance)
Quant (QNT) Price Analysis On The Weekly Chart
The past few days have been filled with so much turbulence in the crypto space as many altcoins have struggled to show strength after losing their key support holding off price decline.
The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases leading to more sell orders than buy orders as the price of QNT is left on balance.
FTX and Genesis’s news have hugely impacted the price of altcoins, including QNT, which has escalated the price to a region of $100 as the price bounced off this region to reclaim $107, just a few prices above key support of $100.
After the price of QNT closed below the weekly high of $150, there are high chances of the market going lower, with the prices of QNT looking weak.
Weekly resistance for the price of QNT – $150.
Weekly support for the price of QNT – $100.
Price Analysis Of QNT On The Daily (1D) Chart
Daily QNT Price Chart | Source: QNTUSDT On Tradingview.com
The price of QNT remains considerably strong in the daily timeframe as the price trades above $100 support after bouncing off from the region of $91.
The price of QNT trades at $107; the price needs to hold strong above this region for the price to rally to a high of $120, where it would face resistance to trend higher. If the price of QNT breaks below $100, we could see more sell-off.
Daily resistance for the QNT price – $130.
Daily support for the QNT price – $100.
Featured Image From NBTC, Charts From Tradingview