Quant (QNT) Technical Analysis: Can It Bounce Back from Bearish Pressure?
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Quant (QNT) Technical Analysis – June 21
Quant (QNT) is experiencing a decline, currently priced at $76.2, down 3.36% over the last 24 hours. The trading volume reached $9,428,625, with 123,766 QNT coins exchanged. Quant (QNT) holds a market capitalization of $920 million, ranking it at #70 among cryptocurrencies with a circulating supply of 12 million coins.
Opening at $78.16 today, Quant has dropped by 2.56%. It peaked at $78.98 but faced resistance, failing to maintain upward momentum. Over the past month, Quant has decreased by 23.36% and by 8.93% over the past week, though it is up by 3.91% from its lowest point in these periods.
1 Day Chart Analysis
The 1-day Bollinger Bands indicate substantial volatility, with the upper band at $94.2, the middle band at $84.5, and the lower band at $74.8. Quant’s price is near the lower Bollinger Band, suggesting the asset might be oversold. The Relative Strength Index (RSI) stands at 31, reinforcing the oversold condition.
An RSI below 30 typically signals that a security is undervalued and could be poised for a rebound. Currently, the RSI is close to this level, indicating that investors should watch for a reversal signal.
4 Hour Chart Analysis
On the 4-hour chart, Bollinger Bands are less volatile compared to the 1-day chart. The upper band is at $80.3, the middle band at $77.9, and the lower band at $75.5. Quant’s price is trading near the middle band but moving towards the lower band, indicating a bearish trend in the shorter term. 
The RSI is at 39, suggesting that the asset is not as oversold on this shorter timeframe but still leans towards the lower end, indicating a potential for further decline if selling pressure continues.
Conclusion
Quant (QNT) is under significant bearish pressure, with its price declining in both short and long terms. The 1-day chart highlights a severe oversold condition, suggesting a potential rebound if the price finds support. The 4-hour chart indicates ongoing bearish momentum with less extreme volatility.
Key levels to watch include the lower Bollinger Bands on both charts ($74.8 on the 1-day and $75.5 on the 4-hour), as breaking below these could lead to further declines. Conversely, a bounce off these levels could present a buying opportunity, particularly if the RSI rises from its oversold territory.
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