The crypto industry continues to display significant price volatility, highlighting increased tension between the bulls and the bears. Further, top tokens continue to display constant decline, suggesting a bear power in the market.
The Quant price constantly traded in a consolidated range between $111.1 and $113.8 for a period, following which the market lost momentum and the QNT price experienced a loss of over 5%.
After testing its low of $107.8, the market bulls regained momentum and broke out of multiple resistance levels. The QNT token jumped over 5.5% in valuation, following which the price traded sideways for a while with the help of its support level.
The bulls made multiple attempts to gain power, but the bears overpowered the bulls, resulting in a price breakdown. The price then traded sideways for a while, displaying a neutral trend in the crypto space.
As the market regained momentum, the price gained just enough power to break out of its resistance level where it traded sideways for a while. Since then, the price has been constantly trading under a bearish influence, indicating a higher selling-over-buying pressure in the market for the coin.
Will QNT Price Hit $115 Soon?
The Relative Strength Index (RSI) displays a bullish curve in the chart, indicating an increase in the bullish sentiment in the market. Further, the averages show a high possibility of a bullish convergence, suggesting a bullish trend reversal soon.
If the market pushes the price above its resistance level of $109.8, the bulls will regain power and test its upper resistance level of $111.1 soon. Maintaining the price at that level will set the stage for Quant to attempt to test its resistance level of $112.4 in the coming time.
Conversely, if the bears continue to gain power, the QNT price will fall to test its support level of $107.8 soon. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of 106.3 during the week ahead.
