Quant [QNT] Price Analysis: 05 April

ambcrypto.com:

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

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.

Source: QNT/USDT on TradingView

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