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- The Quant price again faced a pullback near the $125 mark, forming a bearish pattern.
- Buyers kept the QNT price above the rising trendline.
- Trading volume reached $20.5 million amid low volatility.
Quant price (QNT) trades in a roller-coaster ride as the largest cryptocurrency surged to a 30-day high of $18,300. It seems that the crypto market is gearing up for the “Santa rally” that will take place in December, so by now many altcoins are completing their retracement phase.
In mid-October, bears trapped Quant Markets as they dumped the coin into the live market. Later buyers were unable to keep the QNT price high and uncertainty spread at the same time. As a result, the 90-day low has emerged as a support area. Altcoins are again under selling pressure in December.
As per 4 hour chart, Quant Price again faced pullback close to $125 mark, forming double top pattern (above the chart). If sellers act on this bearish pattern, then they have to drag QNT below the ascending trendline as well as $115 support level. If it happens ahead, then the ideological round level will be the next stop.
Quant token is seeming slightly bullish today, while the price is trading $120 at the time of writing. Thus buyers maintain a positive scenario along with 1.43% gain and market capitalization reported at $1.45 Billion as per CMC. Furthermore, the QNT/BTC pair price hit 1.1% gain at 0.006918 satoshis.
Market suffers from low volatility, in fact, trading volume reached $20.5 Million amid low volatility. Hence, Quant price slipped below the 20 day exponential moving average last night. The Stoch RSI reflects weak market circumstances as moving lines headed towards the oversold zone in the context of daily chart.
Conclusion
The Quant price action makes lower-highs formation nowadays due to low volatility. As per Stoch RSI, the market may react to weak market sentiments. If bears dump QNT below the ascending trendline, then it can march towards conceptual round level-$100.
Support level – $115 and $100
Resistance level – $130 and $150
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
